The Asian Development Bank (ADB) has successfully priced a $4 billion five-year global bond, with proceeds to be added to its ordinary capital resources. This marks ADB’s second fixed-rate global benchmark of the year and reflects strong investor confidence, as the issue was oversubscribed four times. ADB Treasurer Tobias Hoschka noted that the robust demand underscores investor appreciation of ADB’s mission in Asia and the Pacific.
The bond carries a coupon rate of 4.25% per annum, payable semi-annually, and matures on 28 May 2031. It was priced at 99.515% to yield 2.86 basis points over comparable U.S. Treasury notes. Barclays, BofA Securities, Citigroup, and HSBC acted as lead managers, with Daiwa Capital Markets Europe, ING, and Natixis joining as part of the syndicate group.
Distribution of the bond was broad across global markets: 58% was placed in Europe, the Middle East, and Africa; 22% in the Americas; and 20% in Asia. By investor type, central banks and official institutions accounted for 45%, banks for 34%, and fund managers and other investors for 21%.
ADB plans to raise between $39 billion and $45 billion from capital markets in 2026 to support its operations. As a leading multilateral development bank, ADB continues to provide financing and partnerships that promote sustainable, inclusive, and resilient growth across Asia and the Pacific. Founded in 1966 and owned by 69 members, ADB leverages innovative financial tools to build infrastructure, strengthen economies, and safeguard the environment.
