IDB Raises $1bn Bond

The IDB has sold $1bn in new 3-year bonds, with the AAA rated multilateral lender appearing to tread easily in the markets, while the region’s other hopeful issuers wait for more calm. The 2013 bonds priced at 99.753 with a 1.625% coupon to yield 1.706%, or UST plus 32bp. Barclays, JPMorgan and RBC managed the transaction.