ADB USD3.75bn 2.125% Jan 21, ADB USD1.5bn 2.75% Jan 28

  • By Craig McGlashan, Lewis McLellan
  • 11 Jan 2018

Rating: Aaa/AAA/AAA


Tranche 1: $3.75bn global 

Maturity: 20 January 2021

Issue/reoffer price: 99.893

Coupon: 2.125%

Spread at reoffer: mid-swaps plus 1bp; 19.2bp over the 1.875% December 2020 US Treasury


Tranche 2: $1.5bn global 

Maturity: 20 January 2028

Issue/reoffer price: 99.714

Coupon: 2.75%

Spread at reoffer: mid-swaps plus 23bp; 21.85bp over the 2.25% November 2027 US Treasury


Launch date: Thursday, January 11

Payment date: January 19

Joint books: Goldman Sachs, JP Morgan, Nomura, TD Securities


Bookrunners’ comment: 

ADB looked at ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 13,577.78 16 10.55%
2 Citi 12,045.36 19 9.36%
3 JPMorgan 11,945.26 17 9.28%
4 HSBC 10,316.86 14 8.01%
5 NatWest Markets 8,487.83 7 6.59%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 29,150.83 75 12.01%
2 HSBC 22,658.54 50 9.34%
3 JPMorgan 20,595.64 53 8.49%
4 Deutsche Bank 19,242.86 28 7.93%
5 Bank of America Merrill Lynch 18,058.50 54 7.44%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 26,713.57 61 8.24%
2 Barclays 24,851.88 42 7.67%
3 HSBC 23,171.20 77 7.15%
4 UniCredit 22,442.96 56 6.92%
5 BNP Paribas 21,252.17 39 6.56%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 55,927.20 304 7.01%
2 Citi 55,431.88 193 6.95%
3 HSBC 55,208.89 196 6.92%
4 Barclays 45,830.70 153 5.75%
5 Deutsche Bank 42,310.61 117 5.31%