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IDB Launches US$2 Billion 5-Year Fixed-Rate Bond

The Inter-American Development Bank (“IDB” or “IADB”), rated Aaa/AAA (Moody’s/S&P), priced a new US$2 billion 5-year Global benchmark.

The transaction pays a semi-annual coupon of 4.000% and matures on 12th January 2028. It was priced with a spread of 41 basis points over SOFR mid-swaps, which equates to 15.2 basis points over 3.875% United States Treasury due December 2027 and carries a semi-annual yield of 4.090%.

The transaction marks IDB’s first benchmark of the new year across all currencies and represents IDB’s first 5-year fixed-rate USD benchmark since its US$3.5 billion 5-year print in January 2022.

Despite a busy new issue calendar, the transaction managed to attract strong investor interest from the outset, with indications of Interest (“IOIs”) reaching in excess of US$1.5 billion when books officially opened. The orderbook continued to grow gradually throughout the day, with the final orderbook in excess of US$2.2 billion (including US$100 million interest from the Joint Lead Managers), enabling IDB to launch a US$2 billion sized benchmark.

The success of the transaction highlighted the quality of IDB’s credit, as well as the strong following it enjoys with investors globally. The orderbook was of high quality, anchored by Banks/Bank Treasuries and Central Banks /Official Institutions with 50% and 24% of the final allocation, respectively.

This transaction commences our 2023 borrowing program which is expected to be around US$17-$18 billion.  Despite the congested new issue market, the deal received strong support from high quality investors, leading to a solid outcome for our first foray in the US dollar market this year.Laura Fan, Head of Funding, IDB.

Investor Distribution:

Geographic Region

Investor Type




Central Banks / Official Institutions







Asia & Pacific



Asset Managers





Pension Funds / Insurance / Corp



Bond Summary Terms:


Inter-American Development Bank (Ticker: IADB)

Issuer rating:

Aaa / AAA (Moody’s / S&P)


US$2 billion

Settlement date:

12 January 2023 (T+5)



Coupon payment dates:

12th January and 12th July each year (semi-annually)

Maturity date:

12th January 2028

Issue price:


Issue yield:

4.090% s.a.

Reoffer spread (bps):

SOFR MS+41 / UST 3.875% 12/27 + 15.2 bps


London Stock Exchange

Clearing systems:

Fedwire, Euroclear, Clearstream

Joint lead managers:

Barclays Bank PLC, BofA Securities, HSBC Bank Plc, J.P. Morgan Securities Plc

Co-lead managers:

BMO Capital Markets, Citi, Deutsche Bank, Nomura, RBC Capital Markets, Scotiabank, TD Securities, Wells Fargo Securities




Joint Lead Manager Quotes:

Congratulations to the IDB team for kick-starting its funding year with a successful USD 5-year Global – the first USD outing from the Washington supranational community in 2023. High quality interest from bank treasuries and central banks/official institutions is a testament to the strong sponsorship IDB benefits from across the global investor community.”  Sarah Lovedee, Executive Director, SSA DCM, J.P. Morgan

Congratulations to the IDB team kicking off the US$17 billion 2023 borrowing program today, with a new US$2 billion 5- year Global benchmark! The oversubscribed transaction was supported by high quality investor demand from over 60 accounts; anchored by bank treasuries and global investors. HSBC was thrilled to be involved on IDB’s first trade of 2023.” Elena Farrell, Director, SSA DCM, HSBC

“Congratulations to the IDB team for another precisely executed transaction. Despite a heavy issuance window, IDB once again generated a high quality orderbook, highlighting its broad support from the global investor base. Barclays is honored to have supported the IDB on this new 5-year USD Global.” Alex Paterson, Director, SSA Origination, Barclays

A solid outcome for IDB’s first USD benchmark of the year. A steady book build and high-quality demand allowed for a US$2 billion print despite a busy primary backdrop. Congratulations to the Team.” Kamini Sumra, Managing Director SSA Origination, BofA Securities

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.

For investor information about IDB’s bonds, please visit

*This press release is not an offer for sale of the securities of the Inter-American Development Bank. Any offering of IDB securities will be made only by means of a prospectus or other definitive offering document that contains important information about the securities, the offering and IDB. Offerings of securities will be made only in compliance with applicable laws.

Additional Contacts

Fan,Laura Emily

Fan,Laura Emily
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