By Susanna Moon
Chicago, Aug. 22 – Asian Development Bank sold AMD 2.66 billion of 7.2392% five-year offshore Armenian dram-linked bonds.
HSBC Bank plc is the lead manager.
The bonds are denominated in Armenian dram but settled in dollars.
Proceeds will be used to support ADB local currency lending in Armenia.
“Currency risk is always a challenge for borrowers in developing countries,” ADB treasurer Pierre Van Peteghem said in a press release.
“This inaugural bond issue in Armenian dram will allow ADB to offer local currency loans in Armenia, while attracting foreign investment and supporting the development of the Armenian capital markets.”
The issuer is a development bank based in Manila.
| Issuer: | Asian Development Bank
|
| Issue: | Notes
|
| Amount: | AMD 2.66 billion
|
| Maturity: | April 2023
|
| Coupon: | 7.2392%
|
| Manager: | HSBC Bank plc
|
| Pricing date: | Aug. 22
|
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