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Asian Development Bank raises US$1.25B via green bonds

Asian Development Bank raised US$1.25 billion through a dual-tranche issuance of green bonds.

The bank said Aug. 2 that it issued US$750 million of five-year green bonds with a coupon rate of 1.875% per year. They were priced to yield 16.3 basis points over the 1.875% U.S. Treasury notes due July 2022.

The lender also issued US$500 million of 10-year bonds with a coupon rate of 2.375% per year. They were priced at 99.172% to yield 20.5 basis points over the 2.375% U.S. Treasury notes due May 2027.

The proceeds of the issuance will be used to support low-carbon and climate resilient projects funded through the bank's ordinary capital resources and used in its nonconcessional operations.

Bank of America Merrill Lynch, Credit Agricole CIB and J.P. Morgan were the lead managers for the issuance.