ADB matches OeKB’s spread with five year dollar

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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, Citigroup, HSBC 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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