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WASHINGTON - The Inter-American Development Bank (IDB) has issued INR 2 billion (approximately USD 24.7 million) in notes with a 7.00 percent interest rate due April 17, 2033, according to a press release issued Friday.
The notes represent the twelfth tranche of the bank’s Series 869 issuance and will be consolidated with previous tranches totaling INR 39.75 billion issued between April 2023 and March 2025.
Priced at 104.514 percent plus 57 days’ accrued interest, the notes will be listed on the London Stock Exchange (LON:LSEG)’s UK Regulated Market. Payments on the Indian Rupee-denominated notes will be made in U.S. dollars, with Merrill Lynch International serving as the dealer for the transaction.
The notes are part of IDB’s Global Debt Program, which supports the bank’s work to reduce poverty and inequality in Latin America and the Caribbean. The bank’s strategic priorities include social inclusion, productivity innovation, and economic integration, which align with the United Nations Sustainable Development Goals.
All projects funded by the bank undergo a sustainability framework that tracks measurable results and adherence to environmental and social safeguards.
The notes carry investment considerations including exchange rate risk, as payments will be based on the USD/INR exchange rate. The Indian Rupee, as an emerging market currency, may be subject to substantial volatility and government actions that could affect the value of the notes.
Application has been made for the notes to be admitted to the Official List of the United Kingdom (TADAWUL:4280) Listing Authority. The proceeds from the sale will be included in the bank’s ordinary capital resources.
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