The Asian Development Bank (ADB) returned to the US dollar bond market with the pricing of a $3 billion 5-year global bond, proceeds of which will be part of ADB’s ordinary capital resources.

“We looked at the post-summer issuance window and saw an opportunity to add a new 5-year to our global benchmark curve,” said ADB Treasurer Pierre Van Peteghem. “With most of the immediate action in the dollar market situated around the long end, we felt that the mid part of the curve was relatively undersupplied and decided to capitalize on pent-up demand. The result was a strong one with an oversubscribed orderbook for a $3 billion benchmark print that will provide much-needed resources to support ADB’s increased assistance to its regional members in 2020