WASHINGTON, April 24, 2020 /PRNewswire/ -- IDB Invest, the IDB Group's private sector institution (Aa1/AA/AAA) raised a record $1 billion in funding to support the development bank's coronavirus response. This marks the largest fixed rate benchmark issue by IDB Invest.
The two-year bond pays an annual coupon of 0,75% and matures on May 4th, 2022. BMO, Citigroup, HSBC and JP Morgan acted as joint-bookrunners on the deal. Investors included mainly central banks as well as financial institutions, asset managers and insurance companies.
More than 30 investors across the globe participated in the successful issuance with orders totaling over $1.1 billion. The transaction represents IDB Invest's largest public bond issuance and its sixth issue in the Eurobond market.
The high level of demand reaffirmed investor interest in IDB Invest's sustainable development mission, strong credit profile and support for coronavirus alleviation in the private sector.
This bond issuance will contribute to funding IDB Invest's corporate response to the coronavirus pandemic and follows its March announcement to direct up to $5 billion for companies in Latin America and the Caribbean impacted by the pandemic.
By Investor Type
Central Banks/Official Institutions 56%
Middle East & Africa 18%
Asset Managers & insurance Company 17%
Bond Summary Terms
Inter-American Investment Corporation, also known as IDB Invest (Ticker IDBINV)
Aa1 / AA / AAA (Moody's / S&P / Fitch)
Reg S registered
USD 1 billion
May 4 2020
0.75% Annual, 30/360
4 May 2022
London Stock Exchange
Euroclear and Clearstream
Joint lead managers:
BMO, Citigroup, HSBC and JPMorgan
About IDB Invest IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $12.1 billion in asset management and 333 clients in 24 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.