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Overview of LIBOR-based Loans: Sovereign and Sovereign-Guaranteed Borrowers
| Date: | February 2013 |
| Type: | Guides |
| Subject: | ADB funds and products |
Description
The Asian Development Bank (ADB) offers its sovereign and sovereign-guaranteed borrowers London Interbank Offered Rate (LIBOR)-based Loans (LBL) with a floating rate based on 6-month LIBOR plus an effective contractual spread and a maturity premium (where applicable) that are fixed over the life of the loan.
The LBL is a market-based loan product that allows ADB’s efficient intermediation on the finest possible terms, provides transparent and market-based pricing, and meets borrowers’ needs to tailor currencies and interest rate basis to suit project needs and external risk management strategies. This guide gives information on the key features and basic terms and conditions of ADB’s LBL.
