This strong outing with broad sponsorship from investors globally, which allowed us to simultaneously tighten the pricing of the transaction relative to the initial guidance and upsize to $1.5 billion, highlights the esteem for ADB's credit and mission, said ADB Treasurer Pierre Van Peteghem.
The 10-year bond, with a coupon rate of 2.50% per annum payable semi-annually and a maturity date of 2 November 2027, was priced at 2.595% to yield 19.55 basis points over the 2.25% US Treasury notes due August 2027.
The transaction was lead-managed by Citi, Daiwa Securities, HSBC, and J.P. Morgan. A syndicate group was also formed consisting of DBS, Deutsche Bank, ING, Morgan Stanley, Nomura, and RBC.
The issue achieved wide primary market distribution with 56% of the bonds placed in Asia, 33% in the Americas, and 11% in Europe, Middle East, and Africa. By investor type, 56% of the bonds went to central banks and official institutions, 31% to fund managers, 11% to banks, and 2% to other types of investors.
ADB has raised around $27 billion so far this year from the capital markets.
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