By Rebecca Melvin
New York, Oct. 24 – Philippines-based Asian Development Bank priced $1.5 billion of 2˝% 10-year bonds on Wednesday at 99.168 to yield 2.595%, or 19.55 basis points over Treasuries, according to market sources.
The notes were sold by J.P. Morgan Securities plc as stabilization coordinator and Citigroup, Daiwa and HSBC as stabilization managers. The syndicate group also included DBS, Deutsche Bank, ING, Morgan Stanley, Nomura and RBC.
The issue is expected to be listed on the Luxembourg exchange.
The bank said in a news release that the issue “achieved wide primary market distribution,” with 56% placed in Asia, 33% in the Americas and 11% in Europe, Middle East, and Africa.
By investor type, 56% of the bonds went to central banks and official institutions, 31% to fund managers, 11% to banks and 2% to other types of investors.
The bank also said it has raised about $27 billion so far this year from the capital markets.
Manilla-based Asian Development Bank is a regional development bank.
| Issuer: | Asian Development Bank
|
| Issue: | Bonds
|
| Amount: | $1.5 billion
|
| Maturity: | Nov. 2, 2027
|
| Bookrunners: | J.P. Morgan Securities plc, Citigroup, Daiwa and HSBC
|
| Syndicate group: | DBS, Deutsche Bank, ING, Morgan Stanley, Nomura and RBC
|
| Coupon: | 2˝%
|
| Price: | 99.168
|
| Yield: | 2.595%
|
| Spread: | Treasuries pus 19.55 bps
|
| Trade date: | Oct. 25
|
| Settlement date: | Nov. 2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
