Inter-American Development Bank issues $60M callable notes

Published 30/04/2025, 17:52
Inter-American Development Bank issues $60M callable notes

WASHINGTON D.C. - The Inter-American Development Bank (IDB) has issued $60 million in multi-callable notes with a 4.91 percent annual interest rate, maturing on April 30, 2032. The notes, part of the bank’s Global Debt Program, were priced at 100 percent of their aggregate principal amount, with the issue date set for today, April 30, 2025.

The notes, which are registered only, will not be listed on any stock exchange. Interest payments are scheduled annually in arrears starting April 30, 2026, and continuing until the maturity date. The bank retains the option to redeem the notes annually starting April 30, 2026, but no earlier than five business days before the optional redemption dates. The redemption price is set at 100 percent per authorized denomination.

Barclays (LON:BARC) Bank PLC acted as the dealer for this transaction without commission or concessions. However, an affiliate of Barclays has arranged a swap with the bank in connection with the issuance and will receive compensation as part of that arrangement.

The notes are governed by New York law and are cleared through Euroclear Bank SA/NV and Clearstream Banking S.A. They have been designated with the International Securities Identification Number (ISIN) XS3057141270 and Common Code 305714127. The bank has determined that the notes are not applicable for Eurosystem eligibility.

Regarding selling restrictions, the notes are exempt securities under U.S. law and are subject to specific selling restrictions in the United Kingdom (TADAWUL:4280) and Singapore, in accordance with local regulations.

The IDB has not sought to position itself as an "investment firm," "manufacturer," or "distributor" under the UK Markets in Financial Instruments Directive (MiFIR). The target market for these notes is professional investors and eligible counterparties, with all distribution channels deemed appropriate.

Investors should be aware that the U.S. Internal Revenue Service could potentially treat the notes as having original issue discount (OID) due to possible deferral of interest payments beyond one year. However, the IDB intends to take the position that the notes should not be treated as issued with OID for U.S. federal income tax purposes.

This issuance is part of the bank’s efforts to raise funds under its Global Debt Program, and the information is based on a press release statement from the Inter-American Development Bank.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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