By William Gullotti
Buffalo, N.Y., Oct. 2 – Asian Development Bank priced an additional COP 65 billion of 11.2% senior notes due 2025, according to a filing under Rule 3 of Regulation AD with the Securities and Exchange Commission.
The additional notes will be consolidated with the original COP 600 billion offering, issued July 31, to form a single series under the same terms and conditions.
The amounts payable under the notes will be in U.S. dollars.
The additional notes priced at 98.46, plus COP 1,294,222,150 to account for the 64 days of accrued interest from the original par-issue July 31 up to, but excluding, the Oct. 4 settlement.
Morgan Stanley & Co. International plc is again managing the retail sale.
After settlement, the notes will be included under the original listing on the Luxembourg Exchange.
Based in Manila, ADB provides financing for projects aimed at reducing poverty in Asia and the Pacific.
| Issuer: | Asian Development Bank
|
| Amount: | COP 65 billion, add-on
|
| Issue: | Senior notes
|
| Maturity: | Jan. 31, 2025
|
| Bookrunners: | Morgan Stanley & Co. International plc
|
| Trustee: | Citibank, NA, London Branch as global paying agent
|
| Counsel to underwriter: | Cleary Gottlieb Steen & Hamilton LLP
|
| Coupon: | 11.2%
|
| Price: | 98.46 plus 64 days’ accrued interest
|
| Yield: | 11.2%
|
| Trade date: | Oct. 2
|
| Settlement date: | Oct. 4
|
| Distribution: | Registered global notes
|
| ISIN: | XS2656548943
|
| Total issue: | COP 650 billion, including COP 600 billion issued July 31
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