IDB Invest issues first SOFR notes

IDB Invest issues first SOFR notes

Corporate & Sovereign Strategy IDB Invest International Financial Institutions Bonds Debt Fixed Income Capital Markets Latin America

IDB Invest, the private sector affiliate of the Inter-American Development Bank (IDB), sold its first bonds tied to the secured overnight financing rate (SOFR) on Tuesday, issuing $300 million in two-year notes, a source told LatinFinance. IDB Invest priced the new 2024 notes at par to yield 27 basis points over SOFR after opening the deal at around the same rate, the source said. Bank of America, BMO and RBC Capital Markets were joint bookrunners on the sale. The bank plans to use the proceeds

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