By Christine Van Dusen
Atlanta, May 28 – The Philippines’ Asian Development Bank priced $2 billion 1 1/8% three-year notes on Thursday at 99.915 to yield Treasuries plus 15.4 basis points, according to an announcement.
The proceeds will be used for ADB’s capital resources and its non-concessional operations.
“We are pleased with the transaction and the broad sponsorship from investors globally that allowed us to upsize the transaction to $2 billion,” ADB treasurer Pierre Van Peteghem said in a statement.
The deal was lead-managed by Citi, Credit Suisse, HSBC and Nomura. A syndicate group was also formed consisting of BofA Merrill Lynch, BNP Paribas, Daiwa, Deutsche Bank, JPMorgan, Mizuho, Morgan Stanley, RBC, SMBC Nikko and TD Securities.
About 25% of the bonds were placed in Asia, 37% in Europe, the Middle East and Africa and 38% in the Americas. About 73% of the bonds went to central banks and official institutions, 19% to banks and 8% to fund managers and other types of investors.
ADB said it plans to raise about $19 billion from the capital markets in 2015.
ADB, based in Manila, focuses on reducing poverty in Asia and the Pacific.
| Issuer: | Asian Development Bank (ADB)
|
| Amount: | $2 billion
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| Maturity: | June 5, 2018
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| Description: | Notes
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| Bookrunners: | Citi, Credit Suisse, HSBC, Nomura, BofA Merrill Lynch, BNP Paribas, Daiwa, Deutsche Bank, JPMorgan, Mizuho, Morgan Stanley, RBC, SMBC Nikko, TD Securities
|
| Coupon: | 1 1/8%
|
| Price: | 99.915
|
| Spread: | Treasuries plus 15.4 bps
|
| Trade date: | May 28
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| Settlement date: | June 5
|
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