By Mary-Katherine Stinson
Lexington, Ky., April 3 – Inter-American Development Bank issued an additional Rs. 4.2 billion of 7.35% notes due Oct. 6, 2030, according to a pricing supplement.
Amounts are payable in U.S. dollars.
The registered notes priced at 102.081219 plus Rs. 150,976,229.51 representing 179 days’ accrued interest. The total issue price was Rs. 4,438,387,427.51, payable in the amount of $53,558,434.02.
Due to the conversion rate and the terms of the bank’s global debt program, the Rs. 1.75 billion second tranche of the offering was traded at a conversion rate of Rs. 82.87 per dollar.
J.P. Morgan Securities plc was the dealer.
The notes will be consolidated and form a single series with the original upsized offering of Rs. 30 billion of 7.35% notes due 2030 issued on Oct. 6, 2023 and the Rs. 1.75 billion issued Feb. 15.
The bank has applied to list the notes on the regulated market of the London Stock Exchange.
The agency provides financing and technical assistance to businesses in Latin America and the Caribbean and is based in Washington, D.C.
| Issuer: | Inter-American Development Bank
|
| Amount: | Rs. 4.2 billion
|
| Issue: | Notes, series 884, tranche 3
|
| Maturity: | Oct. 6, 2030
|
| Bookrunner: | J.P. Morgan Securities plc
|
| Coupon: | 7.35%
|
| Price: | 102.081219
|
| Call features: | Non-callable
|
| Puts: | No
|
| Pricing date: | March 27
|
| Settlement date: | April 2
|
| ISIN: | XS2696224745
|
| Total issue: | Rs. 35.95 billion including Rs. 30 billion issued Oct. 6, 2023 and Rs. 1.75 billion issued Feb. 15
|
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