ADB launches global bond

Fri, 10 Jan 2003, 00:00 WIB | Source: AFP

MANILA: The Asian Development Bank (ADB) said Thursday it has
launched a US$1 billion three-year global bond to augment its own
lending operations.

The bonds, issued through a syndicate headed by Lehman
Brothers and UBS Warburg, have a yield of 70 basis points over
the two-year U.S. Treasury bond.

"With its funding requirements expected to range between $5-7
billion in the coming years, ADB plans to undertake regular
issuance of liquid benchmark bonds as a means of maintaining a
strong presence in key currency bond markets," the Philippines-
based lender said in a statement.

The bank said it plans one other global bond issue this year.
It plans to borrow $6.4 billion for 2003.

Proceeds would support its non-concessional lending
operations, the bank added. -- AFP

View JSON | Print