IDB issues first SOFR-based notes

IDB issues first SOFR-based notes

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income US

The Inter-American Development Bank (IDB) said it has issued its first-ever bonds tied to the Secured Overnight Financing Rate (SOFR) as it looks to create a new benchmark yield curve. The development bank sold $600m in three-year notes at 26bp over SOFR, taking orders from institutional investors in the Americas and Europe, the Middle East and Africa (EMEA), the IDB said in a press release. Citi, Deutsche Bank, TD Bank and Wells Fargo were the joint lead managers on the bond sale, it added. Ban

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