ADB plans seven year benchmark bond.
Global Banking News - 12 August 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Asian Development Bank (ADB) is planning to issue a dollar-denominated, benchmark bond, which will mature on August 18, 2017, and has set price guidance in the range of 13 basis points over mid-swaps, Dow Jones has reported, citing a person familiar with the situation.
Morgan Stanley (NYSE: MS) and UBS AG UBS AG (NYSE: UBS) (ZHR: UBSN) (UBSN.VX) have been hired to act as joint-lead managers, the person said. ADB is rated 'Aaa' by Moody's Investors Service Inc and 'AAA' by Standard & Poor's Corporation and Fitch Ratings.
Headquartered in Manila, ADB is an international development finance institution owned by 48 countries within the Asia and Pacific region, and another 19 countries from outside the region.
[Editorial queries for this story should be sent to email@example.com]
((Distributed via M2 Communications - http://www.m2.com))