ADB sells $4.5 bln year global benchmark bond

News Image

By MG News | April 22, 2020 at 04:55 PM GMT+05:00

0:00

April 22, 2020: The Asian Development Bank (ADB) returned to the US dollar bond market with the pricing of $4.5 billion 5-year global benchmark bond issue, proceeds of which would be part of ADB’s ordinary capital resources.

“ADB recently tripled the size of its response to the COVID-19 pandemic that is affecting economies in Asia and the Pacific, and this transaction facilitates ADB's capacity to support our clients in addressing the urgent challenges they are currently facing,” said ADB Treasurer Pierre Van Peteghem according to press statement received here.

 “The orderbook, we were able to garner for this 5-year issue is ADB’s largest-ever recorded, and demonstrates the robust support from our investor base for ADB’s efforts in safeguarding the economic, social, and development gains made in the region,” Peteghem added.

The 5-year bond, with a coupon rate of 0.625% per annum payable semi-annually and a maturity date of 29 April 2025, was priced at 99.818% to yield 34.35 basis points over the 0.500% US Treasury notes due March 2025.

The transaction was lead-managed by Bank of America, Citi, TD Securities, and HSBC Bank plc. A syndicate group was also formed consisting of Bank of Montreal, BNP Paribas, Deutsche Bank, SEB, and Nordea Bank.

With around 130 investors taking part, the issue achieved wide primary market distribution with 35% of the bonds placed in Asia; 34% in Europe, Middle East, and Africa; and 31% in the Americas.

By investor type, 56% of the bonds went to central banks and official institutions, 26% to banks, and 18% to fund managers and other types of investors.

ADB plans to raise around $28 billion from the capital markets in 2020, the statement added.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 132,575.73
91.26M
-0.62%
-827.46
ALLSHR 82,933.57
499.92M
-0.31%
-254.49
KSE30 40,339.08
32.84M
-0.77%
-312.38
KMI30 190,720.65
36.98M
-0.71%
-1363.27
KMIALLSHR 55,674.21
256.18M
-0.31%
-173.48
BKTi 36,176.60
5.76M
-0.68%
-246.28
OGTi 28,216.55
7.03M
-0.78%
-221.06
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,065.00 109,545.00
108,625.00
-150.00
-0.14%
BRENT CRUDE 69.99 70.09
69.85
-0.16
-0.23%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.05
2.15%
ROTTERDAM COAL MONTHLY 106.65 106.65
106.25
0.50
0.47%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.16 68.27
67.78
-0.17
-0.25%
SUGAR #11 WORLD 16.15 16.37
16.10
-0.13
-0.80%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg