IDB raises another $4Bn for coronavirus response

• The Inter-American Development Bank (IDB) said Tuesday that it sold $4 billion worth of five-year bonds in US dollars after the orderbook closed with more than $5.75 billion.
• IDB received orders from 117 investors with 42.2% from the Americas, 34.4% from Asia Pacific and 23.4% from Europe, the Middle East and Africa. Central banks and other official institutions bought 50.2% of the notes on offer, while commercial banks acquired 32.5%, asset managers 14.9% and pension funds and insurance companies 2.4%, the bank said.
• The joint lead managers BMO, Goldman Sachs, Morgan Stanley and Nomura put the coupon on the new 2025 notes at 0.625% and priced them at 99.97 to yield 0.631%, equal to 17 basis points over mid-swaps or 22.4 basis points over 0.25% US Treasury notes due 2025.

(Source: Latinfinance)