By DPA
Manila : The Asian Development Bank (ADB) Tuesday issued 10-year US-dollar bonds worth $1 billion to boost its resources for non-concessional operations.
The Manila-based ADB said the bonds have a coupon rate of 5.25 percent per annum payable semi-annually and with a maturity date of June 12, 2017.
The transaction was lead-managed by Daiwa, Deutsche Bank and Morgan Stanley.
"We are very pleased with the transaction," ADB Treasurer Mikio Kashiwagi said. "The response from investors was quite strong, resulting in a high quality book exceeding $1.3 billion."
"This allowed the ADB to launch and price the issue on the same day," Kashiwagi added. "The interest from investors in North America is the strongest we have seen."
To date the ADB has raised more than $5 billion in 11 countries through various transactions, including the new US-dollar benchmark transaction.
ADB said it plans to raise between $6 billion and $8 billion in 2007.