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WASHINGTON - The Inter-American Development Bank (IDB) announced Thursday it has issued HKD 700 million (approximately USD 89.7 million) in notes with a 2.90 percent fixed interest rate due July 23, 2031.
According to a statement released by the multilateral development bank, the notes were priced at 100 percent of their aggregate principal amount. The six-year notes will pay interest annually, with the first payment scheduled for July 23, 2026.
Crédit Agricole Corporate and Investment Bank acted as the dealer for the transaction, which was issued under the IDB’s Global Debt Program as Series No. 1001.
The notes will initially be represented by a temporary global note in bearer form, which will later be exchangeable for a permanent global note. They will be cleared through Euroclear Bank SA/NV and Clearstream Banking S.A.
The issuance is part of the bank’s ongoing capital raising activities to fund development projects across Latin America and the Caribbean. No application has been made to list the notes on any stock exchange.
The notes are exempted securities within the meaning of U.S. securities laws, according to the press release. The offering includes selling restrictions for several jurisdictions including the United States, United Kingdom (TADAWUL:4280), Hong Kong, and Singapore.
The IDB, headquartered in Washington, D.C., is one of the largest sources of development financing for Latin America and the Caribbean, providing loans, grants, and technical assistance to reduce poverty and inequality in the region.
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