IADB issues $4.25bn fixed-rate global benchmark transaction

The Inter-American Development Bank has priced a new $4.25 billion five-year fixed-rate global benchmark.

The transaction pays a semi-annual coupon of 0.875% and matures on 20 April, 2026. It was priced with a spread of 10.5 basis points over the 0.750% UST due 31 March, 2026, which translates to a semi-annual yield of 0.969%.

BNP Paribas, Goldman Sachs International, J.P. Morgan, and Morgan Stanley were joint lead managers.

The transaction is IADB’s second benchmark of 2021 across all currencies and represents IADB’s first five-year benchmark in over a year. At $4.25 billion, the trade stands as IADB’s largest-ever USD five-year fixed-rate benchmark.