Published on 1/23/2019 in the Prospect News Emerging Markets Daily.
New Issue: Asian Development Bank sells £500 million floaters due 2022
By Rebecca Melvin
New York, Jan. 23 – Philippines’ Asian Development Bank priced £500 million of new three-year floating-rate notes at par on Wednesday to yield 26 basis points over the Sterling overnight index average, according to a syndicate source.
HSBC, RBC Capital Markets and TD Bank are bookrunners for the Regulation S deal.
The issuer is a development bank based in Manila.
| Issuer: | Asian Development Bank
|
| Issue: | Floating-rate notes
|
| Amount: | £500 million
|
| Maturity: | Feb. 1, 2022
|
| Lead managers: | HSBC, RBC Capital Markets and TD Bank
|
| Coupon: | SONIA plus 26 bps
|
| Price: | Par
|
| Yield | SONIA plus 26 bps
|
| Pricing date: | Jan. 23
|
| Settlement date: | Feb. 1
|
| Distribution: | Regulation S
|
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