Manila-headquartered Asian Development Bank (ADB) again tapped the global bond market on Wednesday and raised $2.25 billion from a 2-year benchmark IOU.
This was on top of another 7-year global benchmark paper that attracted another $1.5 billion from investors.
Proceeds from the bond exercises will form part of the multilateral’s ordinary capital resources (OCRs) which are market-based loans for country borrowers like the Philippines.
“We appreciate the support of our investors during these extremely turbulent times,” ADB Treasurer Pierre Peteghem said in a statement.
The transaction was lead-managed by HSBC, Morgan Stanley, RBC Capital Markets and TD Securities.