IDB Invest Launches $1 Billion Debut Global Benchmark Sustainability Bond
WASHINGTON, April 14, 2022 /PRNewswire/ -- IDB Invest, rated Aa1/AA+/AAA, raised $1 billion in funding through a 3-year fixed rate benchmark issue. The sustainability bond is IDB Invest's inaugural benchmark issued under its new global debt issuance program.
The three-year bond pays an annual coupon of 2.625% and priced at mid-swaps plus 32 basis points, 3 bps less than the initial price thoughts (IPT), equivalent to 20.4 basis points above the 3-year U.S. Treasury bond. Bank of Montreal, Citigroup, Daiwa, Deutsche Bank and Goldman Sachs acted as joint bookrunners.
The transaction drew 51 investors across the globe and orders totaling over 1.7 billion, the largest orderbook for an IDB Invest bond to date.
Central banks represented 71%, followed by asset managers (15%), banks (7.0%), and insurance/pension funds (7.0%). The investor base included Americas (37%), Asia (34%) and EMEA (29%).
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Media Contact:
Ana Lucia Escudero
[email protected]
SOURCE IDB Invest
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