Asian Development Bank has become the latest in a series of borrowers to issue debt based on the SONIA benchmark setting a new record for the size of a deal using the new reference rate. The bank said it had issued $US1.07 billion ($A1.045 billion) worth of loans and guarantees since June last year, up from just over $1 billion at its peak in mid-2014.
Asian Development Bank has become the latest in a series of borrowers to issue debt based on the SONIA benchmark setting a new record for the size of a deal using the new reference rate. Priced at 25bp over SONIA, and despite offering no new issued premium, the deal saw good demand enabling the issue to increase the size by £90m ($107) to £690m