By Mary-Katherine Stinson
Lexington, Ky., Jan. 23 – Inter-American Development Bank sold a $100 million add-on to its series 827 floating-rate notes due April 12, 2027, according to a pricing supplement.
The notes are being issued at 99.875, representing pricing at 99.773 plus eight days’ accrued interest.
The floating-rate coupon will be SOFR plus 28 basis points.
The notes are non-callable.
Deutsche Bank AG, London Branch is the dealer for the latest tap issue.
The notes will be consolidated and form a single series with the bank’s initial $1 billion tranche issued on April 12, 2022, $100 million add-on issued on May 17, 2022, $100 million add-on issued on May 24, 2022, $100 million add-on issued on Nov. 10 and $100 million add-on issued on Nov. 16.
IADB has applied to list the notes for trading on the London Stock Exchange plc’s regulated market.
The provider of development financing for Latin America and the Caribbean is based in Washington, D.C.
| Issuer: | Inter-American Development Bank
|
| Amount: | $100 million
|
| Description: | Series No. 827 global floating-rate notes, tranche 6
|
| Maturity: | April 12, 2027
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| Dealer: | Deutsche Bank AG, London Branch
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| Coupon: | SOFR plus 28 bps
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| Price: | 99.875
|
| Call feature: | Non-callable
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| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 20
|
| Total deal size: | $1.5 billion
|
| Cusip: | 4581X0ED6
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