IADB launches AUD and NZD Sustainable Development Bonds
The Inter-American Development Bank has priced two new ten-year fixed-rate Sustainable Development Bonds to support IADB’s strategic priorities to reduce poverty and inequality in Latin America and the Caribbean.
One is denominated in Australian dollar, valued at A$60 million ($47 million) and the other in New Zealand dollar valued at NZD66 million ($48 million). The AUD bond carries a coupon of 1.74%, while the NZD bond carries a coupon of 2.045%.
Japan Post Insurance is the sole investor of the bonds, and the NZD transaction represents the IADB’s first SDB private placement in New Zealand Dollar. Wells Fargo Securities is the underwriter and distributor of the AUD bond, and Morgan Stanley & Co International PLC is the underwriter and distributor of the NZD bond.
