MANILA, Feb. 28 (Xinhua) -- The Asian Development Bank (ADB) said Wednesday that it priced a 3.5 billion U.S. dollar 5-year global bond on Tuesday, proceeds of which will become part of ADB's ordinary capital resources.
"This issue garnered around 14 billion dollars of investor participation and is ADB's second-largest order book ever for a global benchmark bond," said ADB Treasurer Pierre Van Peteghem.
The largest order book was achieved in 2021 for a 5 billion dollars global benchmark bond, the ADB added.
The 5-year bond, with a coupon rate of 4.375 percent per annum payable semi-annually and a maturity date of March 6, 2029, was priced at 99.827 percent to yield 12.7 basis points over the 4.25 percent United States Treasury notes due February 2029.
The transaction was lead-managed by BMO Capital Markets, BNP Paribas, Citigroup, and HSBC. A syndicate group was also formed, consisting of DNB Bank ASA, NatWest Markets, Scotiabank, and Standard Chartered Bank.
The issue achieved wide primary market distribution, with 35 percent placed in the Americas, 33 percent in Europe, the Middle East, and Africa, and 32 percent in Asia. By investor type, 50 percent went to banks, 37 percent to central banks and official institutions, and 13 percent to fund managers and other types of investors.
The ADB plans to raise about 30-34 billion dollars from the capital markets in 2024. ■