IADB launches inaugural GBP Sustainable Development Bond

The Inter-American Development Bank has priced a new £275 million seven-year fixed rate Sustainable Development Bond.

Citi, J.P. Morgan, NatWest Markets were joint lead managers on the bond. The new issue carries an annual coupon of 0.500% and will mature on 15 September, 2026. It was priced with a spread of 43 basis points over the 1.5%UKT due 22 July, 2026. The pricing translates to a semi-annual yield of 0.612%.

The proceeds of this transaction will be directed to support sustainable development in IADB’s member countries.

This transaction represents the IADB’s second SDB issuance, following the inaugural C$600 million five-year deal priced just last week.