WASHINGTON - The Inter-American Development Bank (IDB) has issued $20 million in multi callable notes, with an annual fixed interest rate of 5.16%, maturing on November 27, 2034. The notes, which are part of the bank's Global Debt Program, were priced at 100 percent of their aggregate principal amount.
The notes, Series No. 954, were issued on November 27, 2024, and will pay interest annually in arrears starting November 27, 2025, until the maturity date. The interest payment dates are subject to the following business day convention, with no adjustment to the interest amount. These notes are in registered form only, with a minimum denomination of $10,000 and integral multiples thereof.
In terms of redemption, the IDB has the option to redeem the notes in whole, but not in part, on any November 27 starting from 2026 until 2033. The redemption price is set at 100 percent per authorized denomination. There is no provision for redemption at the option of the noteholders.
The notes are governed by New York law and have not been listed on any stock exchange. They are exempt from certain US securities regulations and have been deemed "prescribed capital markets products" in Singapore, excluding them from specific investment restrictions.
Nomura International plc acted as the dealer for this issuance, and no commissions or concessions were payable in respect of the notes. All material expenses related to the issuance were agreed to be paid by the dealer, except for the London Stock Exchange (LON:LSEG) listing fees, if applicable.
The ISIN for the notes is XS2945644461, and the common code is 294564446. The notes are eligible for clearance through Euroclear Bank SA/NV and Clearstream Banking S.A.
This financial move by the IDB is based on a press release statement and is part of the bank's strategy to raise funds under its Global Debt Program. The issuance provides investors with a fixed income opportunity and adds to the diverse financial instruments available in the market.
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