IADB launches inaugural Sustainable Development Bond

The Inter-American Development Bank has priced a new C$600 million five-year fixed rate Sustainable Development Bond.

Proceeds of the bond - IADB’s inaugural SDB issuance - will be used to support sustainable development in the lender's member countries. It has a maturity date of 10 October, 2024 

Joint lead managers were RBC Capital Markets, Scotiabank, and TD Securities. The new issue carries a semi-annual coupon of 1.70% and will mature on October 10, 2024. It was priced with a spread of 35.5 basis points over the 1.5% GOC due September 1, 2024. The pricing translates to a semi-annual yield of 1.737%