By Rebecca Melvin
New York, Jan. 11 – The Philippines’ Asian Development Bank priced $5.25 billion of notes in two tranches due 2021 and 2028 on Thursday, according to a syndicate source.
The $3.75 billion three-year tranche priced with a yield of mid-swaps plus 1 basis point.
The $1.5 billion 10-year tranche priced with a yield of mid-swaps plus 23 bps, according to the source.
Further pricing details were not immediately available.
Joint bookrunners for the offering were J.P. Morgan Securities plc, Goldman Sachs, Nomura and TD Securities.
Based in Manila, ADB provides financing for projects aimed at reducing poverty in Asia and the Pacific.
| Issuer: | Asian Development Bank
|
| Issue: | Notes
|
| Amount: | $5.25 billion
|
| Bookrunners: | J.P. Morgan Securities plc, Goldman Sachs, Nomura and TD Securities
|
| Pricing date: | Jan. 11
|
|
|
| 2021 notes
|
| Amount: | $3.75 billion
|
| Maturity: | 2021
|
| Yield: | Mid-swaps plus 1 bp
|
|
|
| 2028 notes
|
| Amount: | $1.5 billion
|
| Maturity: | 2028
|
| Yield: | Mid-swaps plus 23 bps
|
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