The Asian Development Bank (ADB) has raised 5.2204 billion Philippine pesos ($100 million) from a new issue of local currency bonds in the international market. Currency-linked bonds are denominated in the local currency but settled in US dollars. The bonds pay a fixed interest rate of 5.25% and have a final maturity of 4 years.
ADB issued bonds in the Philippine domestic capital market in 2005 and 2007 but this issue is the first time it has mobilized Philippine peso funding from international investors through a currency-linked structure.
Static/Current Takeaways Important for NIACL AO Mains Exam:
- Asian Development Bank Headquarters: Manila, Philippines, President: Takehiko Nakao.