The Asian Development Bank (ADB) has successfully priced its third fixed-rate global benchmark issue of 2025, a $4 billion 5-year global bond. The proceeds from this offering will contribute to ADB’s ordinary capital resources, supporting its vital development initiatives across Asia and the Pacific.
The bond, maturing on May 30, 2030, carries a coupon rate of 4.125% per annum, payable semi-annually. It was priced at 99.812% to yield 6.1 basis points over the 3.875% United States Treasury notes due April 2030.
“We are very pleased with ADB’s third fixed-rate global benchmark issue of the year,” said Tobias Hoschka, ADB Treasurer. “The nearly $12 billion orderbook represents an oversubscription of three times, demonstrating the enduring support of our investor base as an important cornerstone of our funding program to support development in Asia and the Pacific.”
The transaction saw robust and diverse participation from the global investment community. By geography, 39% of the bonds were placed in Europe, the Middle East, and Africa; 38% in the Americas; and 23% in Asia. Central banks and official institutions accounted for 42% of the allocation, with banks receiving 38%, and fund managers and other investors making up the remaining 20%.
BNP Paribas, Crédit Agricole CIB, RBC Capital Markets, and Wells Fargo Securities acted as lead managers for the transaction.
ADB anticipates raising approximately $35 billion to $36 billion from the capital markets in 2025 to fund its extensive development programs.
