February 8, 2019 / 8:36 AM / 10 days ago

ADB raises $100 mln via maiden offshore peso-linked bonds

MANILA, Feb 8 (Reuters) - The Asian Development Bank (ADB) has raised 5.22 billion pesos ($100 million) from its maiden issue of Philippine peso-linked bonds in the international market, the lender said on Friday.

The four-year bonds pay a fixed interest rate of 5.25 percent and will be settled in U.S. dollar.

Proceeds from the issue will support ADB’s growing local currency lending operations in the Philippines and help reduce foreign exchange risk for ADB’s borrowers, the Manila-based lender said in a statement. ($1 = 52.0500 Philippine pesos) (Reporting by Enrico dela Cruz; Editing by Gopakumar Warrier)

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