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WASHINGTON - The Inter-American Development Bank (IDB) issued $600 million in floating rate notes due October 5, 2028, according to a statement released Friday.
The notes, priced at 100.093 percent plus 67 days’ accrued interest, will be consolidated with previously issued notes in the same series, bringing the total outstanding amount to $2 billion.
The floating rate notes will pay interest quarterly based on the Compounded SOFR (Secured Overnight Financing Rate) plus a spread of 0.35 percent per annum. Interest payments will be made on January 5, April 5, July 5, and October 5 each year, with the first payment scheduled for July 5, 2025.
Scotiabank (TSX:BNS) served as the dealer for the transaction. The notes have been submitted for admission to the Official List of the UK Financial Conduct Authority and for trading on the London Stock Exchange (LON:LSEG)’s Regulated Market.
This issuance represents the tenth tranche of the IDB’s Series 886 notes. The previous nine tranches were issued between October 2023 and April 2025, with amounts ranging from $100 million to $500 million.
The information is based on a pricing supplement released by the Inter-American Development Bank.
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