The Inter-American Development Bank said it raised AUD1 billion ($668 million) in the Australian market in its second offering of bonds to fund sustainable development projects in South America’s Amazon region.
The bank priced new 4.6% 2031 notes at 99.765 to yield 4.649%, or 38.9 basis points over Australian government bonds, it said Tuesday in a press release.
Demands peaked at AUD3.5 billion with ANZ, Daiwa and RBC Capital Markets acting as joint bookrunners on the deal, it added.
The sale marks IDB’s largest-ever single-tranche bond in the Australian market, according to the release.
“The proceeds will support projects that protect the forest, strengthen local economies, and deliver measurable results,” said IDB Group President Ilan Goldfajn.
The IDB made its inaugural placement of Amazonia bonds last November on the eve of the UN climate conference in Brazil, selling $100 million in five-year notes.