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ADB Floats a Dutch Guilder 400 Million Bond Issue

The Asian Development Bank has offered a Dutch guilder 400 million (US$242 million) bond issue in the Eurobond market through a syndicate lead managed by ABN-AMRO Hoare Govett.

The Bonds have a coupon rate of 6.25 per cent per annum payable annually and a 10-year straight maturity. The issue price was at 101.675 per cent with a re-offer of 100.00 per cent to yield 17 basis points over the 6 per cent Dutch State Loan due January 2006. The Bonds will be listed on the Amsterdam Stock Exchange.

This transaction is the ADB's largest borrowing in guilders to date and marks the Bank's return to the Dutch guilder debt market for the first time since June 1992.

The DFL400 million principal amount has been swapped into a US dollar fixed-rate liability, the proceeds of which will be included in the ordinary capital resources of the ADB and used in its ordinary operations.

Established in 1966 to promote economic growth in the Asia-Pacific region, the ADB has 56 members.

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