The Asian Development Bank (ADB) priced a USD 3.5 billion 5-year global bond, aimed at bolstering its ordinary capital resources and advancing its mission across the Asia-Pacific region.
Banking & Finance
The Asian Development Bank (ADB) priced a USD 3.5 billion 5-year global bond, aimed at bolstering its ordinary capital resources and advancing its mission across the Asia-Pacific region. This issue garnered around USD 14 billion of investor participation and is ADB's second-largest orderbook ever for a global benchmark bond. Notably, the 5-year bond features a coupon rate of 4.375 percent per annum, payable semi-annually, and is set to mature on 6 March 2029. Priced at 99.827 percent, the bond offers a yield of 12.7 basis points over the 4.25 percent United States Treasury notes due February 2029. The broad primary market distribution saw 35 percent of the bond placed in the Americas, 33 percent in Europe, the Middle East, and Africa, and the remaining 32 percent in Asia. In terms of investor type, banks accounted for 50 percent of the allocation, followed by central banks and official institutions at 37 percent, with fund managers and other investors comprising 13 percent.
BMO Capital Markets, BNP Paribas, Citigroup, and HSBC served as lead managers for the transaction, with additional support from DNB Bank ASA, NatWest Markets, Scotiabank, and Standard Chartered Bank as part of the syndicate group.
Asian Development Bank (ADB)
Founded- December 1966
HQ- Mandaluyong, Philippines
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