New Issue: Asian Development Bank sells $4 billion 4½% notes due 2028 at SOFR mid-swaps plus 35 bps

By Marisa Wong and Cristal Cody

Los Angeles, Aug. 24 – Asian Development Bank priced $4 billion of 4½% five-year notes at SOFR mid-swaps plus 35 basis points, or Treasuries plus 14.6 bps, on Wednesday, according to a market source.

Price talk was in the SOFR mid-swaps plus 37 bps area, as previously reported.

BofA, Barclays, Citi and JPMorgan are the bookrunners.

The issuer is a Manila-based development bank.

Issuer:	Asian Development Bank
Amount:	$4 billion
Issue:	Notes
Maturity:	Aug. 25, 2028
Joint lead managers:	Barclays Bank plc, Citigroup Global Markets Ltd., J.P. Morgan Securities plc and Merrill Lynch International
Co-lead managers:	Canadian Imperial Bank of Commerce, London Branch, ING Bank NV, Singapore Branch, NatWest Markets plc, Bank of Nova Scotia, London Branch and Wells Fargo Securities, LLC
Counsel to underwriters:	Cleary Gottlieb Steen & Hamilton LLP (New York)
Auditors:	Deloitte & Touche LLP
Coupon:	4½%
Price:	99.961
Spread:	SOFR mid-swaps plus 35 bps, or Treasuries plus 14.6 bps
Pricing date:	Aug. 29
Settlement date:	Aug. 31
Listing:	Luxembourg
Price talk:	SOFR mid-swaps plus 37 bps area
ISIN:	US045167FZ16

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