New Issue: IADB sells $3 billion 1.75% notes due 2025 at mid-swaps plus 9 bps

By Cristal Cody

Tupelo, Miss., Jan. 10 – Inter-American Development Bank (Aaa/AAA) priced $3 billion of 1.75% global notes due March 14, 2025 on Thursday at mid-swaps plus 9 basis points, or a Treasuries plus 8.3 bps spread, according to a market source.

Initial price talk was in the mid-swaps plus 10 bps area.

BofA Securities, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc. and TD Securities (USA) LLC were the bookrunners.

The provider of development financing for Latin America and the Caribbean is based in Washington, D.C.

Issuer:	Inter-American Development Bank
Amount:	$3 billion
Description:	Global notes
Maturity:	March 14, 2025
Bookrunners:	BofA Securities, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc. and TD Securities (USA) LLC
Coupon:	1.75%
Spread:	Mid-swaps plus 9 bps, or Treasuries plus 8.3 bps
Trade date:	Jan. 9
Ratings:	Moody's: Aaa
	S&P: AAA
Price guidance:	Mid-swaps plus 10 bps area

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