Asian Development Bank talks dollar benchmark issue of three-year notes at mid-swaps plus 8 bps

By Rebecca Melvin

New York, July 8 – The Philippines’ Asian Development Bank plans to price a U.S. dollar denominated benchmark issue of three-year notes, which were being talked to yield mid-swaps plus eight basis points on Monday. The deal was expected to price later in the session, according to a syndicate source.

BofA Merrill Lynch, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and TD Securities are joint lead managers of the Securities and Exchange Commission-exempt global deal, which is being brought under the issuer’s medium-term note program.

Based in Manila, ADB provides financing for projects aimed at reducing poverty in Asia and the Pacific.

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