IIC Prices FRN

Inter-American Investment Corporation (IIC) emerged Thursday with a $350m 2015 floating-rate bond. The transaction was upsized from $300m, and priced at par with a coupon of 3-month Libor+35bp, tight to 40bp-area price talk. Daiwa, Deutsche Bank, JPMorgan and Mizuho led the Aaa2/AA/AAA rated RegS transaction. IIC is part of the Inter-American Development Bank.