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WASHINGTON - The Inter-American Development Bank (IDB) has issued $100 million in floating rate notes due August 1, 2029, according to a statement released Tuesday. The notes represent the fourth tranche of the bank’s Series 934 issuance.
The notes will be consolidated with previous tranches of the same series, including $1 billion issued in August 2024, $600 million in October 2024, and $100 million in January 2025, bringing the total issuance to $1.8 billion.
Priced at 100.112 percent plus 63 days’ accrued interest, the notes will pay interest quarterly based on the Compounded Secured Overnight Financing Rate (SOFR) plus a spread of 0.37 percent per annum. Interest payments will be made on February 1, May 1, August 1, and November 1 each year, beginning August 1, 2025.
Application has been made for the notes to be admitted to the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange (LON:LSEG)’s regulated market. Crédit Agricole CIB acted as the dealer for the issuance.
The proceeds will be included in the IDB’s ordinary capital resources and used in its operations throughout Latin America and the Caribbean. The bank focuses on economic and social development projects aimed at reducing poverty and inequality in a sustainable manner.
The notes are exempted securities within the meaning of U.S. securities laws and are being offered under the IDB’s Global Debt Program. The minimum denomination for the notes is $1,000.
The statement noted that all projects undertaken by the bank go through its sustainability framework, which tracks measurable results and the effectiveness of environmental and social safeguards.
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