Wednesday, August 5, 2020 | ePaper

ADB sells $4b 3-year global benchmark bond

  • Print


Business Desk :
The Asian Development Bank (ADB) returned to the US dollar bond market with the pricing of a $4 billion three-year global bond - the proceeds of which will be part of ADB's ordinary capital resources, according to a press release.
"We are very appreciative of the consistently solid investor support that ADB receives in its US dollar bond outings. This trade is no exception. The transaction was well oversubscribed, which enabled us to fine-tune pricing and still print one of our largest three-year USD issue sizes at $4 billion," said ADB Treasurer Pierre Van Peteghem.
He continued, "This gives us the resources to continue to provide much needed assistance to the Asia and Pacific region, particularly during this pandemic." The three-year bond, with a coupon rate of 0.25 percent per annum payable semi-annually and a maturity date of July 14, 2023, was priced at 99.833 percent to yield 12 basis points over the 0.25 percent US Treasury notes due June 2023, reads the statement.
The transaction was lead-managed by Bank of Montreal, Deutsche Bank, Goldman Sachs, and Morgan Stanley. A syndicate group was also formed consisting of ANZ, Credit Agricole CIB, Daiwa, ING, Mizuho, and Natwest.
The issue achieved wide primary market distribution with 43 percent of the bonds placed in Asia; 23 percent in Europe, Middle East, and Africa; and 34 percent in the Americas. By investor type, 62 percent of the bonds went to central banks and official institutions, 25 percent to banks and 13 percent to fund managers and other types of investors, adds the statement.
ADB plans to raise around $30 billion to $35 billion from the capital markets in 2020.
ADB adds it is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
Established in 1966, it is owned by 68 members-49 from the region- according to the press statement.

More News For this Category

Mamoon Mahmood Shah, Managing Director & CEO (Current Charge) of NRB Bank Limited, cutting cake to celebrate the bank's 7th Anniversary with the slogan 'Marching Towards Success & Sustainability' at its Corporate Head Office in the capital on Tuesday. Md Khurshed Alam, Deputy Managing Director, was also present.

Mamoon Mahmood Shah, Managing Director & CEO (Current Charge) of NRB Bank Limited, cutting cake to celebrate the bank's 7th Anniversary with the slogan 'Marching Towards Success & Sustainability' at its Corporate Head Office in the capital on Tuesday. Md Khurshed Alam, Deputy Managing Director, was also present.

Govt eyes global market for jute goods

Economic Reporter :The government is working to diversify the use of jute and boost its production by taking effective steps to reform the sector eyeing global market, said Textiles and

ADB's COVID-19 response reaches $9.3b in last six months

Economic Reporter :The Asian Development Bank (ADB) committed $9.3 billion in financial resources in the last six months since early February when ADB started its initial response to support its

Export earning notches 0.59pc growth in July

Economic Reporter :The country's export earnings witnessed a 0.59 percent growth in July this year compared to July 2019 despite the impacts of the novel coronavirus (COVID-19) pandemic.According to a

Japan hopes to continue work to develop economic tie with BD

Economic Reporter :The Ambassador of Japan to Bangladesh Ito Naoki hoped to continue work closely for developing economic partnership between Japan and Bangladesh which will encourage more Japanese investment in

Bourses sustain gaining steak

Economic Reporter :Stocks on Tuesday sustained the gaining streak for the eighth consecutive sessions as investors continued their buying binge on selective large-cap issues after unveiling an expansionary monetary policy.DSEX,

Ispahani Group sponsored 10 oxygen Cylinders and N95 masks for the Rangunia Health Complex in Chattogram. Dr Hasan Mahmud, Information Minister, Omar Hannan, General Manager (Marketing) and Shah Moinuddin Hasan, General Manager (Tea Trade) of Ispahani Group, among others, were present.

Ispahani Group sponsored 10 oxygen Cylinders and N95 masks for the Rangunia Health Complex in Chattogram. Dr Hasan Mahmud, Information Minister, Omar Hannan, General Manager (Marketing) and Shah Moinuddin Hasan, General Manager (Tea Trade) of Ispahani Group, among others, were present.

BEZA, Yabang Group ink land lease agreement

BEZA, Yabang Group ink land lease agreement

Economic Reporter :Bangladesh Economic Zones Authority (BEZA) on Tuesday inked a land lease agreement with Jiangsu Yabang Dyestuff, China, a concern of the Yabang Investment Holdings Group Co Limited, at

MICL recommended 7pc cash dividend

Business Desk :Mercantile Insurance Company Ltd (MICL) organized its 188th Board of Directors meeting virtually by using digital platform recently. The meeting was presided over by M Kamal Uddin, Chairman

Asian markets track Wall St surge, focus turns to Capitol Hill

AFP, Hong Kong :Asian stocks advanced Tuesday following another record close on Wall Street, with investors cheered by forecast-beating US data and hopes for fresh stimulus for the world's top