MANILA, Feb 25 (NNN-PNA) – The Asian Development Bank (ADB) said today, that, it has sold a two-billion-U.S. dollar-10-year global bond, proceeds of which will be part of ADB’s ordinary capital resources.
This is ADB’s second successful outing in the U.S. dollar market this year, ADB Treasurer, Pierre Van Peteghem, said in a statement.
“The constructive result provides us with more resources to support our developing members in Asia and the Pacific, especially those most affected by the (coronavirus) pandemic,” he added.
The Manila-based bank said, the 10-year bond, with a coupon rate of 1.5 percent per annum, payable semi-annually and a maturity date of Mar 4, 2031, was priced at 99.088 percent, to yield 18.35 basis points, over the 1.125 percent U.S. Treasury notes due in Feb, 2031.
The ADB said, the transaction was lead-managed by JP Morgan, Nomura, RBC, and TD Securities. A syndicate group was also formed consisting of ANZ, Credit Agricole CIB, ING, Natixis, and Scotiabank, it added.
The ADB said, the issue achieved wide primary market distribution with 27 percent of the bonds placed in Asia, 48 percent in Europe, Middle East, and Africa, and 25 percent in the Americas.
By investor type, the ADB said, 56 percent of the bonds went to central banks and official institutions, 30 percent to banks, and 14 percent to fund managers and other types of investors.
The ADB said, it plans to raise around 30 billion U.S. dollars to 35 billion U.S. dollars from the capital markets in 2021.– NNN-PNA
