ADB matches OeKB’s spread with five year dollar

By Burhan Khadbai
27 Jan 2021

The Asian Development Bank took advantage of strong investor appetite in the dollar bond market on Wednesday to make a deal that matched the spread Oesterreichische Kontrollbank paid on a five year dollar issue on Tuesday.

Lead managers Bank of America, CitigroupHSBC and Morgan Stanley circulated initial price thoughts of 6bp area over mid-swaps on Tuesday for ADB’s new five year (February 2026) global dollar benchmark.

They opened the books at the same level on Wednesday morning with over $3.85bn of indications of interest. ...

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