New Issue: IADB gives details on $3 billion sale of 1.75% notes due 2025

By Cristal Cody

Tupelo, Miss., Jan. 16 – Inter-American Development Bank (Aaa/AAA) issued $3 billion of 1.75% global notes due March 14, 2025 at 99.942 on Thursday, according to additional details of the previously reported offering in a pricing supplement.

The notes priced on Jan. 9 at mid-swaps plus 9 basis points, or a Treasuries plus 8.3 bps spread.

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:	Series 739 global notes
Maturity:	March 14, 2025
Bookrunners:	BofA Securities, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc. and TD Securities (USA) LLC
Co-managers:	Barclays, Deutsche Bank AG, London Branch, Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc, NatWest Markets plc, Nomura International plc, RBC Capital Markets, LLC and Wells Fargo Securities LLC
Coupon:	1.75%
Price:	99.942
Spread:	Mid-swaps plus 9 bps, or Treasuries plus 8.3 bps
Trade date:	Jan. 9
Settlement date:	Jan. 16
Ratings:	Moody's: Aaa
	S&P: AAA
Price guidance:	Mid-swaps plus 10 bps area

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