September 12, 2019
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.
DC-based development bank sells $600m in three-year notes at 26bp over the new reference rate