By Sarah Lizee
Olympia, Wash., Jan. 21 – Asian Development Bank sold $2.25 billion of 1 5/8% three-year bonds and $2 billion of 1 7/8% 10-year bonds, according to a press release.
The three-year bonds priced at 99.953 to yield 7.7 basis points over the 1½% U.S. Treasury notes due January 2023, and the 10-year bonds priced at 99.61 to yield 13.25 bps over the 1¾% U.S. Treasury notes due November 2029.
The lead managers were Barclays, JPMorgan, Nomura and RBC Capital Markets. A syndicate group was also formed consisting of ANZ, Commerzbank, ING, Credit Agricole and Natwest Markets.
The final order book was over $6.5 billion, the bank said.
Proceeds will be used for ordinary capital resources.
The bank said it plans to raise around $25 billion from the capital markets this year.
The development bank is based in Manila.
| Issuer: | Asian Development Bank
|
| Issue: | Bonds
|
| Bookrunners: | Barclays, JPMorgan, Nomura and RBC Capital Markets
|
| Pricing date: | Jan. 15
|
|
|
| Three-year bonds
|
| Amount: | $2.25 billion
|
| Maturity: | Jan. 24, 2023
|
| Coupon: | 1 5/8%
|
| Price: | 99.953
|
| Spread: | 7.7 bps over 1½% U.S. Treasury notes due January 2023
|
|
|
| 10-year bonds
|
| Amount: | $2 billion
|
| Maturity: | Jan. 24, 2030
|
| Coupon: | 1 7/8%
|
| Price: | 99.61
|
| Spread: | 13.25 bps over 1¾% U.S. Treasury notes due November 2029
|
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