Published on 1/5/2017 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Asian Development Bank prices $4 billion notes due 2020, 2027
By Christine Van Dusen
Atlanta, Jan. 5 – Philippines’ Asian Development Bank priced a combined $4 billion issue of three- and 10-year notes on Thursday, according to a company announcement.
The $3 billion 1¾% notes due 2020 priced at 99.942 to yield Treasuries plus 28.05 basis points.
The $1 billion 2 5/8% notes due 2027 priced at 99.451 to yield Treasuries plus 23.75 bps.
JPMorgan, Citigroup, Goldman Sachs and Nomura International were the bookrunners for the deal.
ADB, based in Manila, focuses on reducing poverty in Asia and the Pacific through economic growth, environmentally sustainable growth and regional integration.
| Issuer: | Asian Development Bank
|
| Amount: | $4 billion
|
| Description: | Global notes
|
| Bookrunners: | JPMorgan, Citigroup, Goldman Sachs, Nomura International
|
| Co-managers: | BofA Merrill Lynch, BMO Capital Markets, BNP Paribas, Credit Agricole CIB, Daiwa Securities, DBS Bank, Mizuho International, RBC Capital Markets, SMBC Nikko, TD Securities
|
| Trade date: | Jan. 5
|
| Settlement date: | Jan. 10
|
|
|
| 2020 notes
|
| Amount: | $3 billion
|
| Maturity: | Jan. 10, 2020
|
| Coupon: | 1¾%
|
| Price: | 99.942
|
| Spread: | Treasuries plus 28.05 bps
|
|
|
| 2027 notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 10, 2027
|
| Coupon: | 2 5/8%
|
| Price: | 99.451
|
| Spread: | Treasuries plus 23.75 bps
|
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