About the IADB's Debt Issuance
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The IADB, the oldest and largest regional multilateral development
institution, was established in 1959. The purpose of the IADB
is to promote the economic and social development of its Latin
American and Caribbean member countries. The IADB’s priorities
are to promote poverty reduction and social equity as well as
environmentally sustainable growth. In accordance with the target
first established by the IADB’s Board of Governors a decade
ago, 44% of the number (and 52% of the volume) of lending operations
approved during the year (excluding emergency lending) is directed
to social sectors and poverty reduction. For investors contemplating
socially responsible investments,
IADB bonds may be suitable.
IADB bonds are rated triple-A by the major credit rating agencies, as has been the case since such bonds were first rated. For its benchmark bonds, IADB monitors the bond issuance process to achieve the best possible execution. This process involves investors and underwriters for transparent price discovery; strives towards solid primary distribution to a diversified investor base; and aims to obtain broad sponsorship from underwriters to promote liquidity.
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In the past 7 years, the IADB has issued in 21 different currencies-Australian dollar, Brazilian real, Canadian dollar, Costa Rican colones, Chilean peso, Colombian peso, euro, Great Britain pound, Hong Kong dollar, Hungarian forint, Iceland krona, Indian Rupees, Japanese yen, Mexican peso, New Zealand dollar, Peruvian new sol, Polish zloty, Swiss franc, New Taiwan dollar, South African rand and US dollar-with borrowing program sizes ranging from $4.6 billion to $9.0 billion. In 2008, the borrowing program is around $9.0 billion.
Discount Note Program
The Discount Note Program is the short-term borrowing instrument of the IADB. It is designed to improve the cash management of the Bank and to provide investors with an alternative in the discount note market. IADB offers the notes for sale on a continuous basis in maturities of 1 day to 360 days. The program is authorized with a limit of $5 billion.
The four dealers appointed to sell the program are: Credit Suisse, Goldman Sachs and Co., Merrill Lynch GSI and Morgan Stanley. Rates are posted daily on Bloomberg (Type IADN1 <Go>). For inquiries on trading of IADB's Discount Notes please contact any of the following dealers:
Credit Suisse
+1-212-325-3525
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Goldman Sachs and Co.
+1-212-902-8352
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Merrill Lynch GSI
+1-212-449-5666
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Morgan Stanley
+1-212-761-2356
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Or contact IADB Funding Officers:
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Laura Fan
+1-202-623-3772
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Andre Delgado
+1-202-623-1381
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