Published on 9/8/2022 in the Prospect News Green Finance Daily and Prospect News Investment Grade Daily.
New Issue: IADB sells $3 billion 3.5% seven-year sustainable development notes
By Cristal Cody
Chicago, Sept. 8 – Inter-American Development Bank (Aaa/AAA/AAA) priced $3 billion of 3.5% seven-year global sustainable development notes on Wednesday, according to a market source.
The notes priced with a 46 basis points spread to SOFR mid-swaps after talk in the 48 bps area. Alternatively, the spread priced at 21.6 bps over Treasuries.
Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC, Barclays, BMO Capital Markets Corp., Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd., Merrill Lynch International, Morgan Stanley & Co. International plc, Nomura International plc, RBC Capital Markets, LLC, Bank of Nova Scotia, London Branch and Wells Fargo Securities, LLC are the bookrunners.
The provider of development financing for Latin America and the Caribbean is based in Washington, D.C.
| Issuer: | Inter-American Development Bank
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| Amount: | $3 billion
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| Issue: | Global sustainable development notes
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| Maturity: | Sept. 14, 2029
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| Bookrunners: | Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC, Barclays, BMO Capital Markets Corp., Citigroup Global Markets Ltd., Daiwa Capital Markets Europe Ltd., Merrill Lynch International, Morgan Stanley & Co. International plc, Nomura International plc, RBC Capital Markets, LLC, Bank of Nova Scotia, London Branch and Wells Fargo Securities, LLC
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| Coupon: | 3.5%
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| Price: | 99.423
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| Spread: | SOFR mid-swaps plus 46 bps, or Treasuries plus 21.6 bps
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| Trade date: | Sept. 7
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| Settlement date: | Sept. 14
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| Cusip: | 4581X0EF1
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| Price talk: | SOFR mid-swaps plus 48 bps area
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