New Issue: Asian Development Bank prices $3 billion 1 5/8% notes due 2021

By Christine Van Dusen

Atlanta, March 9 – Philippines-based Asian Development Bank priced $3 billion 1 5/8% five-year notes at 99.923 to yield Treasuries plus 31.35 basis points, according to a company announcement.

Citigroup, JPMorgan, Nomura and RBC Capital Markets were the lead managers. BofA Merrill Lynch, Bank of Montreal, BNP Paribas, Daiwa Securities, DBS Bank, Deutsche Bank, Goldman Sachs, HSBC, Mizuho International, Morgan Stanley formed the syndicate group.

The issue saw 46% of the bonds placed in Asia; 29% in Europe, Middle East and Africa; and 25% in the Americas. About 58% of the bonds went to central banks and official institutions, 29% to banks and 13% to fund managers and other types of investors.

ADB plans to raise around $20 billion from the capital markets in 2016.

The issuer, based in Manila, focuses on reducing poverty in Asia and the Pacific.

Issuer:	Asian Development Bank
Amount:	$3 billion
Maturity:	March 16, 2021
Description:	Global notes
Bookrunners:	Citigroup, JPMorgan, Nomura, RBC Capital Markets (lead managers); BofA Merrill Lynch, Bank of Montreal, BNP Paribas, Daiwa Securities, DBS Bank, Deutsche Bank, Goldman Sachs, HSBC, Mizuho International, Morgan Stanley (syndicate group)
Coupon:	1 5/8%
Price:	99.923
Spread:	Treasuries plus 31.35 bps
Trade date:	March 9
Settlement date:	March 16

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