IDB issues a 7-year fixed-rate sustainable development bond in NZ market

The Inter-American Development Bank completed the issuance of a fixed-rate sustainable development bond in the New Zealand market (known as Kauri market) for an amount in local currency equivalent to about 240 million (US) dollars.

The 7-year term bonds maturate in February 2030 and pay a semi-annual coupon of 4.750%. The issue yield was 4.838% semi-annual. The strong demand from domestic bank treasuries and asset managers allowed BID to print a larger size than expected.