ADB Cuts Lending Rates on US and Yen Pool-Based Loans
MANILA, PHILIPPINES - ADB has reduced lending rates for both its US dollar and Japanese yen single currency pool-based loans.
For the period 1 January to 30 June 2006, the lending rate for US dollar pool-based loans will decrease from 6.14% to 5.94%. This reflects the average cost of borrowings - 5.54% per annum from 1 July to 31 December 2005 plus a spread of 0.40% per annum (this represents a lending spread of 0.60% points less a waiver of 0.20%).
For the same period, the lending rate for the Japanese yen pool-based loans will fall from 1.71% to 1.49%. This reflects the average cost of borrowings for the pool of 1.09% per annum from 1 July to 31 December 2005 plus a spread of 0.40% per annum (this represents a lending spread of 0.60% points less a waiver of 0.20%).
ADB has also announced the rebate for its ADB LIBOR-based loans for the 1 July to 31 December 2005 period. For US dollar LIBOR-based loans that were billed with a rate of LIBOR plus 0.40% during the six months, the rebate is 0.31% per annum, slightly lower than the 0.32% rebate from the previous period.
For Japanese yen LIBOR-based loans that were billed with a rate of LIBOR plus 0.40% per annum during the same period, the rebate is 0.39% per annum, which is unchanged from the previous period.
The rates reflect ADB's average costs of borrowings dedicated to LIBOR-based loans in their respective currencies.
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