ADB sells $750m ten-year global green bond

The Asian Development Bank has raised $750 million to help finance climate change mitigation and adaptation projects with an issue of a ten-year green bond.

Proceeds of the green bonds will support low-carbon and climate-resilient projects funded through ADB's ordinary capital resources and used in its non-concessional operations.

The ten-year bond has an issue size of $750 million, a coupon rate of 3.125% per annum payable semi-annually and a maturity date of 26 September 2028. It was priced at 98.982% to yield 16.9 basis points over the 2.875% US Treasury notes due August 2028. The transaction was lead-managed by Bank of America Merrill Lynch, Citi, and HSBC.