The Inter-American Development Bank raised CHF150 million ($183 million) in a sale of eight-year sustainable development bonds on Tuesday, representing its third offering in the Swiss market this year.
The bank priced the 2034 notes at par to yield 0.945%, or 18 basis points over Saron mid-swaps, after opening the bidding at around the same spread, Andre Delgado, a funding officer at the bank, told LatinFinance.
The lender initially intended to issue CHF100 million worth of notes but upsized the deal in response to investor demand, he said.
BNP Paribas was the sole bookrunner on the offering.
IDB, the IDB Group’s public sector financing arm, priced CHF185 million in 10-year SDBs in January and CHF175 million worth of 20-year notes in June.
The bank has also priced three benchmark-sized deals in US dollars this year, as well as dozens of smaller transactions in dollars and other currencies.