The Inter-American Development Bank (IDB) added £250 million ($323 million) to its 4% 2029 sustainable development bonds on Tuesday, according to a source involved in the deal.
The IDB priced the bond tap at 99.068 to yield 4.193%, or 31 basis points over the UK sterling overnight index average mid-swaps, the source said, adding that JPMorgan and Scotiabank were joint bookrunners on the offering.
“The deal was launched with a spread already set at 31 basis points,” the source said.
The IDB initially issued £400 million worth of the sustainable 2029s in February last year in a deal that, at the time, had the second largest demand ever attained in a syndicated transaction.
In the first quarter of this year, the development bank added to sustainable bonds in Canadian dollars as well as its 2028 notes and 4.75% 2029 notes in sterling.