ADB Sells $2 Billion 10-Year Global Benchmark Bond

MANILA, PHILIPPINES (19 March 2025) — The Asian Development Bank (ADB) yesterday priced a $2 billion 10-year global benchmark bond, proceeds of which will be part of ADB’s ordinary capital resources.

“This offering achieved the highest orderbook at more than $7.2 billion for an ADB 10-year global benchmark issue,” said ADB Treasurer Tobias Hoschka. “We are grateful for the investors’ support of ADB’s mission of achieving sustainable, inclusive, and resilient growth across Asia and the Pacific."

The 10-year bond, with a coupon rate of 4.375% per annum payable semi-annually and a maturity date of 22 March 2035, was priced at 99.210% to yield 17.4 basis points over the 4.625% US Treasury notes due February 2035.

The transaction was lead-managed by Citigroup, Deutsche Bank, HSBC and J.P. Morgan.

The issue achieved wide primary market distribution with 55% placed in Europe, Middle East, and Africa; 25% in Asia; and 20% in the Americas. By investor type, 40% went to banks, 38% to central banks and official institutions, and 22% to fund managers and other types of investors. 

ADB plans to raise about $35 billion–$36 billion from the capital markets in 2025.

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—49 from the region.