ADB sells $2bn 10-year global benchmark bond

The Asian Development Bank has priced a $2 billion ten-year global bond, proceeds of which will be part of ADB’s ordinary capital resources.

The ten-year bond, with a coupon rate of 1.5% per annum payable semi-annually and a maturity date of 4 March 2031, was priced at 99.088% to yield 18.35 basis points over the 1.125% US Treasury notes due February 2031.

The transaction was lead-managed by JP Morgan, Nomura, RBC, and TD Securities. A syndicate group was also formed consisting of ANZ, Credit Agricole CIB, ING, Natixis, and Scotiabank.

ADB plans to raise between $30 billion and $35 billion from the capital markets in 2021.