Green adds lustre to new 10 year ADB Kangaroo
The Asian Development Bank hopped on to screens on Tuesday to print a new 10.5 year green Kangaroo bond. Demand for longer dated Kangaroo bonds has been muted recently, leading to smaller transaction sizes. So introducing a green label helped the ADB feel “comfortable” with achieving its minimum issuance size, said Anthony Ruschpler, treasury specialist at the ADB in Manila.
The ADB met its minimum issue size and printed A$150m of debt.
“We saw specific interest out of Asia for a new green bond at the long end, which we wanted to capture,” said Ruschpler.Deutsche Bank, Mizuho and RBC Capital Markets ran the transaction ...