ADB issues $1b in global bonds
Afp, Manila
The Asian Development Bank said Tuesday it had returned to the US dollar bond market with a one-billion-dollar, 10-year global benchmark bond issue. Proceeds would be used for the Philippines-based lender's non-concessional lending operations, a bank statement said. The bonds, with a coupon rate of 5.25 percent per annum, payable semi-annually, will mature on June 12, 2017. "We are very pleased with the transaction. The response from investors was quite strong, resulting in a high quality book exceeding 1.3 billion dollars," ADB treasurer Mikio Kashiwagi said. The transaction was lead-managed by Daiwa, Deutsche Bank and Morgan Stanley. A syndicate consisting of Citigroup, Credit Suisse, Dresdner, Goldman Sachs, JP Morgan, Merrill Lynch, Mitsubishi Securities, Nomura, Royal Bank of Canada and UBS, were named as co-lead managers.
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