ADB issues 2nd 3.5 bln USD 5-year global benchmark bond in 2024

MANILA, Aug. 22 (Xinhua) — The Asian Development Bank (ADB) on Thursday said it priced a 3.5 billion U.S. dollars 5-year global benchmark bond on Wednesday, proceeds of which will be part of the ADB’s ordinary capital resources.
The 5-year bond, with a coupon rate of 3.625 percent per annum payable semi-annually and a maturity date of Aug. 28, 2029, was priced at 99.462 percent to yield 9.8 basis points over the 4.00 percent U.S. Treasury notes due July 2029, the bank said in a press release.
The issue achieved wide primary market distribution, with 58 percent placed in Europe, the Middle East, and Africa, 29 percent in the Americas, and 13 percent in Asia.
By investor type, 42 percent went to banks, 41 percent to central banks and official institutions, and 17 percent to fund managers and other types of investors.
The ADB said it plans to raise about 30 billion to 34 billion dollars from the capital markets in 2024.
ADB issued its first 3.5 billion dollars 5-year global bond in February this year. ■