Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Economy

ADB sells 4 bln USD 3-year global benchmark bond

July 08, 2020


Abstract : The Asian Development Bank (ADB) on Wednesday said it returned to the bond market with the pricing of a 4-billion-U.S.-dollar three-year global bond, proceeds of which will be part of ADB's ordinary capital resources.

MANILA, July 8 (Xinhua) -- The Asian Development Bank (ADB) on Wednesday said it returned to the bond market with the pricing of a 4-billion-U.S.-dollar three-year global bond, proceeds of which will be part of ADB's ordinary capital resources.

"We are very appreciative of the consistently solid investor support that ADB receives in its U.S. 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 U.S. dollars issue sizes at 4 billion U.S. dollars," ADB Treasurer Pierre Van Peteghem said in a statement.

"This gives us the resources to continue to provide much-needed assistance to the Asia and Pacific region, particularly during this pandemic," he added.

The Manila-based bank said the 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 U.S. Treasury notes due June 2023.

The ADB said 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, it added.

The ADB said 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, it said 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.

The ADB added that it plans to raise around 30 billion to 35 billion U.S. dollars from the global capital markets in 2020.  Enditem

Scan the QR code and push it to your mobile phone

Keyword: ADB bond market

Reading:

China's local currency bond market remains largest in East Asia: ADB

Vision and Action on Jointly Promoting Agricultural Cooperation on the Belt and Road

Homecoming listings of Chinese mainland companies to reinforce Hong Kong's status as global financial hub

ADB opens Mongolian togrog-linked Bond Market

Highlights of 2020 Government Work Report

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial