IDB Invest Issues More Bonds For Coronavirus Response

• IBD Invest said Tuesday that it sold $1Bn worth of 3-year bonds to fund a lending program for companies affected by the Covid-19 pandemic, building on a $1Bn issue in April.
• The Washington DC-based multilateral lender, part of the Inter-American Development Bank (IDB), priced the new 0.5% notes at $99.96 to yield 0.51%, equal to 29 basis points over mid-swaps or 33.75 basis over US Treasury bonds.
• The bookrunners- BMO (Bank of Montreal), Citi, Goldman Sachs and TD (Toronto-Dominion) Securities- took more than $1.55Bn in orders from 51 investors, with 38% of buyers from the Americas, 37% from Europe, the Middle East and Africa (EMEA), and 25% from Asia.
• Central banks and official institutions bought 75% of the notes on offer, followed by fund managers with 14%, commercial banks with 7% and insurers and pension plans with 4%, according to IBD Invest.

(Source: Latinfinance)