IADB prices $50m Sustainable Development Bond

The Inter-American Development Bank has priced a $50 million, 15-year fixed-rate Sustainable Development Bond to support its strategic priorities to reduce poverty and inequalities in Latin America and the Caribbean.  

Fukoku Mutual Life Insurance Company is the sole investor of the bond, which carries a coupon of 1.50% pa. The transaction represents the IADB’s first SDB private placement in 2021. The proceeds will not be committed to any specific loan, rather will be included in the ordinary capital resources of the bank. Lead manager was Barclays Bank.