ADB to sell $1-B in 3-yr bonds, say sources


Posted at Feb 02 2009 11:40 AM | Updated as of Feb 02 2009 07:40 PM

HONG KONG - The Asian Development Bank is selling $1 billion in three-year bonds, and is sounding out a preliminary price guidance of 25 basis points over midswaps, two sources with direct knowledge of the plans said on Monday.

ADB will be aiming to price the deal later in the day or as late as Tuesday, said one source, who declined to be identified as he is not authorized to talk to the media about the sale.

The multilateral lender has hired Daiwa, Goldman Sachs, Morgan Stanley, and UBS for the transaction, said another source who is involved in the deal.