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| ADB issues $2.5 bn bonds in US market |
| Press Trust of India / Manila/New Delhi Feb 03, 2010, 17:23 IST |
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The Asian Development Bank (ADB) has issued $2.5 billion-bonds in the US market to boost its capital resources.
The bond sale is part of the multilateral lending agency's plan to raise $15 billion in 2010.
In a statement today, ADB said the proceeds from the $2.5 billion five-year bond issue would help in bolstering the bank's ordinary capital resources and would be used for "non- concessional operations".
These bonds would have a coupon rate of 2.625 per annum and a maturity date of February 9, 2015.
ADB noted that it plans to raise around $15 billion in 2010.
The deal is also ADB's first global issue in the US dollar bond market since May 2009. At that time also, the bank had issued bonds with a five-year maturity.
"We are very pleased with the size and sponsorship of the transaction, which reflects ADB's core funding strategy of maintaining a strong presence in key currency bond markets through regular issuance of liquid benchmark global bonds," ADB Treasurer Mikio Kashiwagi said.
The transaction was lead-managed by Bank of America Merrill Lynch, Morgan Stanley, RBC Capital Markets and UBS.
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