RIYADH: The Asian Development Bank has sold two global benchmark bonds valued at $2.25 billion and $1.5 billion, respectively.
The proceeds will be part of the bank’s ordinary capital resources to assist its developing member countries in Asia and the Pacific, it said in a statement.
The two-year bond has a coupon rate of 1.62 percent and matures on 15 March 2024, while the seven-year bond has a coupon rate of 1.87 percent and matures on 15 March 2029.
ADB also plans to raise $34 billion to $36 billion from the capital markets in 2022, it said in a statement.
Established in 1966, ADB is owned by 68 members, with 49 from the region, committed to finance development projects in the Asia-Pacific area.
