ADB Announces Rebate Rates for LIBOR-Based Loans

MANILA, PHILIPPINES – The Asian Development Bank (ADB) announced today the rebate rates for its US dollar and Japanese yen LIBOR-based loans.

From 1 July to 31 December 2009, the rebate for U.S. dollar LIBOR-based loans is 0.31%, down from 0.35% in the previous six-month period. For Japanese yen LIBOR-based loans, the rebate is 0.35%, down from 0.38%. For LIBOR-based loans converted from the pool-based loans, the rebates are 0.09% for US dollar loans and 0.15% for Japanese yen loans.

The rebates reflect the average cost of borrowings dedicated to LIBOR-based loans in their respective currencies from 1 January to 30 June 2009.

Separately, ADB has revised the lending rates for its US dollar and Japanese yen pool-based single currency loans. For the period 1 July to 31 December 2009, the lending rate for US dollar pool-based loans is at 4.68% down from 5.03% in the previous six-month period. This reflects the average cost of borrowings for the pool – 4.28% per annum from 1 January to 30 June 2009 plus a spread of 0.40% per annum (representing a lending spread of 0.60% less a waiver of 0.20%).

During the same period, the Japanese yen lending rate is at 1.90%, down from 1.92% in the previous six-month period. This reflects the average cost of borrowings for the pool – 1.50% for Japanese yen from 1 January to 30 June 2009, plus a spread of 0.40% per annum (representing a lending spread of 0.60% less a waiver of 0.20%).

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