By Christine Van Dusen
Atlanta, Aug. 20 – Philippines-based Asian Development Bank priced an upsized $2 billion issue of 1 5/8% five-year notes at 99.461 to yield Treasuries plus 16.1 basis points, according to a company announcement.
The proceeds will be part of ADB’s ordinary capital resources and used in its non-concessional operations.
“We are pleased with the transaction and the consistent sponsorship from investors globally which allowed us to upsize the transaction to $2 billion,” said ADB treasurer Pierre Van Peteghem in a news release.
BofA Merrill Lynch, Goldman Sachs, JPMorgan, RBC were the lead managers for the deal.
About 34% of the bonds were placed in Asia; 25% in Europe, the Middle East and Africa; and 41% in the Americas. By investor type, 53% of the bonds went to central banks and official institutions, 38% to banks and 9% to fund managers and other types of investors.
ADB said it plans to raise around $19 billion from the capital markets in 2015.
ADB is a Manila-based development bank.
| Issuer: | Asian Development Bank
|
| Amount: | $2 billion
|
| Maturity: | Aug. 26, 2020
|
| Description: | Global bonds
|
| Lead managers: | BofA Merrill Lynch, Goldman Sachs, JPMorgan, RBC
|
| Underwriters: | BNP Paribas, Citigroup, Credit Suisse, Daiwa, DBS Bank, Deutsche Bank, HSBC, Morgan Stanley, Nomura, TD Securities
|
| Coupon: | 1 5/8%
|
| Price: | 99.461
|
| Spread: | Treasuries plus 16.1 bps
|
| Trade date: | Aug. 19
|
| Settlement date: | Aug. 26
|
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