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NEW YORK - The Inter-American Development Bank (IDB) has issued $600 million in floating rate notes due March 13, 2030, according to a press release statement issued Tuesday.
The notes, priced at 99.957 percent plus 89 days’ accrued interest, will be consolidated with two previous tranches of the same series: $600 million issued on March 13, 2025, and $200 million issued on May 22, 2025.
The floating rate notes will pay interest quarterly based on Compounded SOFR plus 0.39 percent per annum, with a minimum interest rate of 0 percent. Interest payment dates are set for March 13, June 13, September 13, and December 13 each year, with the first payment scheduled for June 13, 2025.
BMO Capital Markets, National Bank of Canada (OTC:NTIOF) Financial, and Scotiabank (TSX:BNS) acted as lead managers for the transaction. The notes have been admitted to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange (LON:LSEG)’s UK Regulated Market.
The notes are exempted securities within the meaning of Section 3(a)(2) of the U.S. Securities Act of 1933 and Section 3(a)(12) of the U.S. Securities Exchange Act of 1934, under the provisions of Section 11(a) of the Inter-American Development Bank Act.
This issuance brings the total outstanding amount of this particular series to $1.4 billion.
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