Published on 2/2/2023 in the Prospect News Investment Grade Daily.
New Issue: IADB sells $200 million additional floaters due 2026
By Mary-Katherine Stinson
Lexington, Ky., Feb. 2 – Inter-American Development Bank sold an additional $200 million of floating-rate notes due Sept. 16, 2026, according to a pricing supplement.
The series 809 tranche 12 notes, which priced at 100.124, will be consolidated and form a single series with the initial $600 million of notes issued on Sept. 16, 2021 and the 10 subsequent add-ons.
The price is inclusive of a purchase price of 99.547 and 47 days’ accrued interest.
Interest paid on the securities is at a rate of SOFR plus 17 basis points.
The Regulation S bonds are non-callable.
Barclays is the dealer for the latest tranche.
The issuer provides financing for Latin American and Caribbean countries and is based in Washington, D.C.
| Issuer: | Inter-American Development Bank
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| Amount: | $200 million
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| Issue: | Floating-rate notes, series 809 tranche 12
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| Maturity: | Sept. 16, 2026
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| Manager: | Barclays
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| Coupon: | SOFR plus 17 bps
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| Price: | 100.124
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| Call features: | Non-callable
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 1
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| Distribution: | Regulation S
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| ISIN: | US4581X0DY17
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| Total issuance: | $1.9 billion, including $600 million of notes issued on Sept. 16, 2021 (tranche 1), $100 million of the notes issued on Oct. 21, 2021 (tranche 2), $100 million issued on Nov. 22, 2021 (tranche 3), $100 million issued on Jan. 31, 2022 (tranche 4), $100 million of the notes issued on Feb. 7, 2022 (tranche 5), $100 million of the notes issued on April 7, 2022 (tranche 6), $100 million of notes issued on Oct. 12 (tranche 7), $100 million of notes issued on Nov. 8 (tranche 8), $100 million issued on Nov. 17 (tranche 9), $200 million issued on Nov. 28 (tranche 10) and $100 million issued on Jan. 25 (tranche11)
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