|
|
Article: $200 million African Development Bank notes priced.
- Article from:
- PR Newswire
- Article date:
- December 7, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
$200 MILLION AFRICAN DEVELOPMENT BANK NOTES PRICED
First Development Bank to Issue Subordinated Paper in U.S.
NEW YORK, Dec. 7 /PRNewswire/ -- The African Development Bank yesterday issued $200 million subordinated notes due 1995 and 2003. The issue, which is rated Aa1 by Moody's, AA+ by Fitch and AA- by Standard & Poor's, represents the first public offering of subordinated debt in the United States by a development bank. Kidder, Peabody & Co. Incorporated acted as lead manager in the transaction.
The issue was brought in two tranches: $100 million 9-1/2 percent of 1995, priced at 99.875 to yield 9.52 percent, and $100 million ...