ADB Prices JPY50 Billion 20-Year Global Bond Issue

MANILA, PHILIPPINES - The Asian Development Bank returned to the Japanese bond market today with the pricing of its JPY50 billion 20-year global bond issue, proceeds of which will be part of the bank’s ordinary capital resources and used in its lending operations.

The bonds, with a coupon rate of 2.35% per annum payable semiannually and maturity date of 21 June 2027, were priced at 99.857% to yield 8 basis points over the 2.1% JGB due March 2027.

The transaction was lead managed by Mitsubishi UFJ Securities and UBS Investment Bank.

“We are pleased to be able to return to the yen public bond market with this benchmark issue. The transaction is in response to demand from institutional investors, mainly in Europe and North America, looking for high grade yen bonds at longer maturity,” said Mikio Kashiwagi, Treasurer of the ADB.

The Bank, thus far in 2007, has raised over US$6 billion in 11 currencies through various transactions, including the new Japanese Yen global transaction, US dollar benchmark bond issue, two public bond issues in Canadian dollars and Pound sterling and four local currency bond issues in Hong Kong, Malaysia, Philippines and Singapore.