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WASHINGTON - The Inter-American Development Bank (IDB) has issued INR 2 billion (approximately USD 23.57 million) in notes due August 8, 2033, according to a press release statement issued Friday.
The 7.00 percent notes represent the fifth tranche of the bank’s Series 880 offering and will be consolidated with four previous tranches totaling INR 19.6 billion issued between August 2023 and May 2025.
The notes were priced at 103.025084 percent plus 14 days’ accrued interest. Despite being denominated in Indian Rupees, all payments related to the notes will be made in U.S. dollars.
J.P. Morgan Securities plc acted as the dealer for the transaction. The notes have been admitted to the Official List of the United Kingdom (TADAWUL:4280) Listing Authority and to trading on the London Stock Exchange (LON:LSEG)’s UK Regulated Market.
The notes carry a fixed interest rate of 7.00 percent per annum, with interest payments scheduled annually on August 8 until maturity. The first interest payment is due on August 8, 2026.
The IDB notes are considered "prescribed capital markets products" under Singapore regulations and are exempt securities within the meaning of U.S. securities laws.
The offering includes specific provisions for handling currency exchange rates between Indian Rupee and U.S. dollar, with the Reference Rate determined by Financial Benchmarks India Private Ltd.
This issuance is part of IDB’s Global Debt Program, which helps finance the bank’s development activities across Latin America and the Caribbean.
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