Wednesday, 23 May 2012 16:57
ISLAMABAD: The Asian Development Bank (ADB) returned to the US dollar bond market with the pricing of a $1.25 billion 3-year global benchmark bond issue.
The proceeds of the Bank's third global bond issue of the year will form part of the bank's ordinary capital resources and will be used in its non-concessional operations, said ADB statement received here on Wednesday.
The bonds, which carry a coupon rate of 0.50% per annum payable semiannually and a maturity date of 17 August 2015, were priced at 99.666% to yield 0.605%, or 19.55 basis points over the 0.25% US Treasury notes due May 2015.
The issue achieved wide primary distribution with about 52% of the bonds placed in Asia, 22% in Europe, Middle East and Africa, and 26% in the Americas.
By investor type, around 63% were bought by central banks and official institutions, 20% by fund managers, and 17% by banks and others.
The transaction was ...