WASHINGTON, June 1, 2023 /PRNewswire/ — IDB Invest, the Aa1/AA /AAA-rated private sector institution of IDB Group, raised €500 million via a 7-year fixed-rate benchmark bond. This is IDB Invest’s second euro-denominated bond and its longest benchmark bond to date.
The seven-year bond pays an annual coupon of 3.125% and is priced in midswaps plus 21 basis points, equal to 97.3 basis points over the February 2030 German government bond yield. Deutsche Bank, DZ Bank, HSBC and TD Securities acted as joint brokers on the deal.
Demand for the transaction was strong, with more than 40 investors placing orders for more than €1 billion (including €75 million of interest from the joint lead manager). Banks and central banks/official institutions took the most allocations (49% and 33% respectively); the rest to wealth managers (11%), insurance/pension funds (6%) and other investors (1%). Investor demand was well diversified geographically, with a share split between Germany/Austria/Switzerland (25%), UK/Ireland (24%), Benelux (14%), Other Europe/MEA (11%) , Asia (10%), Italy (9%), the Nordic countries (6%) and France (2%).
IDB Invest is committed to providing opportunities to invest in sustainable development in Latin America and the Caribbean.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances companies and projects to achieve financial results and maximize sustainable development in the region. With a portfolio of $15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advice that meet the needs of its clients in a variety of industries.
Press contact: Ana Escudero analuciae@iadb.org
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