News Releases

Sep 9, 2004

IDB launches us$ 1 billion 10-year benchmark global bond issue

Credit Suisse First Boston, HSBC Bank, Plc and Morgan Stanley are Joint Lead Managers

            A 10-year US$1 billion benchmark global bond issue by the Inter-American Development Bank has received a strong response from investors in Asia, the Americas and Europe/Middle East/Africa (EMEA)

            The bond pays a semiannual coupon of 4.50 percent.  The issue was priced Wednesday at 25 basis points above 10 year U.S. Treasury notes.

            The firm response to the sale reflected interest by investors in the security.  The issue was also considered an opportunity to diversify holdings by some investors under current market conditions.

            Investors in Asia accounted for 55 percent of the issue: investors in the Americas subscribed to 30 percent, while investors in EMEA accounted for the balance.

            The issue, in the framework of the Bank’s Global Debt Program, is the only IDB U.S. dollar benchmark global bond for 2004.

            The proceeds of the issue will be used to help finance the social and economic development of the IDB’s Latin American and Caribbean member countries.

 

Information

Additional information about the IDB and its financial operations can be found at the website www.iadb.org/fin/capmar.htm.

Any questions may be addressed to Håkan Lonæus, Chief of the IDB Capital Markets Division, at tel. (202) 623-2441 or Esteban Molfino, Chief of the Funding Section, at (202) 623-2369.

 

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