IADB launches its largest sustainable development bond

The Inter-American Development Bank has priced a new $4.25 billion three-year sustainable development bond global benchmark.  

Joint lead managers were Barclays, HSBC, Nomura, RBC Capital Markets. Co-lead managers were BofA Securities, BMO Capital Markets, Citi, Deutsche Bank, Goldman Sachs International, J.P. Morgan, Morgan Stanley, NatWest, TD Securities, and Wells Fargo.

The transaction pays a semi-annual coupon of 0.500% and matures on 24 May, 2023. It was priced with a spread of 27.7 basis points over the 0.250% UST due 15 April, 2023, which translates to a semi-annual yield of 0.511%. It represents IADB’s largest ever public bond issuance.