IADB issues inaugural SEK1.1bn ‘EYE’ Bond

The Inter-American Development Bank has priced a new SEK1.1 billion (about $127 million) five-year fixed-rate offering under the Education, Youth, and Employment Bond (EYE) program.

The transaction marks IADB’s first SEK ‘EYE’ bond issuance, the proceeds of which will be directed to fund the lender's project loans eligible under the EYE Bond program criteria. The projects are designed to promote sustainable growth, poverty reduction, and social equity in Latin America and the Caribbean. The bank’s first issuance under the EYE Bond program came in 2014.  

Nordea Bank was the sole lead manager on the bond, which carries an issue price of 99.802% and coupon of 0.250% payable annually in arrears.