Highlighting Sustainable Development Goal #3—Good Health and Well-Being
The Inter-American Development Bank (“IDB” or “IADB”), rated Aaa/AAA (Moody’s/S&P), priced new 3-tranche Uridashi fixed-rate notes under its Sustainable Development Bond (“SDB”) focused on SDG#3 (Good Health and Well Being).
The notes are denominated in Brazilian reais (3-year tenor), Indian rupees (3-year tenor) and Mexican pesos (3-year tenor), and constitute the first such sale of SDB focused on SDG#3 denominated in these currencies to retail investors in Japan. The notes are due for sale to investors on May 29, 2020. Nomura Securities Co., Ltd. is the sole arranger of the bonds.
This issuance follows IDB’s announcement that it would direct up to $12 billion of additional lending to support countries in their response to the COVID-19 pandemic and its consequences. One of the areas IDB will concentrate support is the Immediate Public Health Response. The IDB aims to target support for countries’ preparedness and response capacities to help contain the transmission of the virus and mitigate its impact, with resources to strengthen public healthcare systems and purchase supplies and equipment.
| Issuer: | Inter-American Development Bank (Ticker IADB) | |
| Issuer rating: | Aaa / AAA (Moody’s / S&P) | |
| Amount: | BRL 32.00m (approximately $5.5 million equivalent) INR 633.90m (approximately $8.4 million equivalent) MXN 190.90m (approximately $8.1 million equivalent) | |
| Settlement date: | 28 May 2020 | |
| Settlement date to Japanese investors: | 29 May 2020 | |
| Coupon: Coupon payment dates: | 2.78% (BRL) 3.87% (INR) 3.46% (MXN) 25 May and 25 November (semi-annual) | |
| Maturity date: | 25 May 2023 | |
| Listing: | None | |
| Clearing systems: | Euroclear, Clearstream |
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| Lead manager: | Nomura Securities Co., Ltd |
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| ISIN: | XS2152898180 (BRL) XS2152897968 (INR) XS2152886680 (MXN)
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About the IDB
The Inter-American Development Bank is a multilateral financial institution supporting Latin America and the Caribbean’s efforts to reduce poverty and inequality, and to bring about development in a sustainable, climate-friendly way. Established in 1959, it is the leading source of development financing for Latin America and the Caribbean, with a strong commitment to achieving measurable results. Since becoming the first Asian member country of the IDB in 1976, Japan has been involved in IDB projects through a number of funds and programs.
About Nomura
Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership.
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