ADB sells $4bn 3-year global bond
The Asian Development Bank has priced a $4 billion three-year global bond. The bond, with a coupon rate of 0.25% per annum payable semi-annually and a maturity date of 14 July 2023, was priced at 99.833% to yield 12 basis points over the 0.25% US Treasury notes due June 2023.
The transaction was lead-managed by Bank of Montreal, Deutsche Bank, Goldman Sachs, and Morgan Stanley. A syndicate group was also formed consisting of ANZ, Credit Agricole CIB, Daiwa, ING, Mizuho, and Natwest.
Forty-three per cent of the bonds placed in Asia; 23% in Europe, Middle East, and Africa; and 34% in the Americas. By investor type, 62% of the bonds went to central banks and official institutions, 25% to banks, and 13% to fund managers and other types of investors. Proceeds will be part of ADB’s ordinary capital resources.
