ADB Sells $4 Billion 5-Year Global Benchmark Bond
Philippines, May 20 -- The Asian Development Bank (ADB) yesterday priced a $4 billion 5-year global bond, proceeds of which will become part of ADB's ordinary capital resources. The 5-year bond, with a coupon rate of 4.25% per annum payable semi-annually and a maturity date of 28 May 2031, was priced at 99.515% to yield 2.86 basis points over the 3.875% United States Treasury notes due April 2031.The transaction was lead-managed by Barclays, BofA Securities, Citigroup, and HSBC. A syndicate group was also formed, consisting of Daiwa Capital Markets Europe, ING, and Natixis.The issue achieved wide primary market distribution, with 58% placed in Europe, the Middle East, and Africa; 22% in the Americas; and 20% in Asia. By investor type, 45% w...
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