The Asian Development Bank (ADB) announced on Thursday it as returned to the U.S. dollars bond market with the pricing of a 4 billion U.S. dollars five-year global benchmark bond issue, proceeds of which will be part of ADB's ordinary capital resources.
"For the fourth time this year we have issued large liquid global dollar benchmarks, equalling ADB's largest-ever U.S. dollar global benchmark issue at 4 billion U.S. dollars," said ADB Treasurer Pierre Van Peteghem in a statement.
"The depth and breadth of the support we have seen from the investor community on this transaction reaffirms the strategy we have followed in the capital markets this year in response to a larger borrowing requirement," Van Peteghem added.
As a result of the final 4 billion U.S. dollars outcome, Van Peteghem said "our 2017 borrowing program is well advanced bringing us closer to this year's funding requirements."
However, Van Peteghem said, "we remain nimble and able to consider attractive pre-funding ideas for the remainder of the year."
The five-year bond, with a coupon rate of 1.750 percent per annum payable semi-annually and a maturity date of Sept. 13, 2022, was priced at 1.840 percent to yield 19.45 basis points over the 1.625 percent U.S. Treasury notes due August 2022.
