|
|
Article: African Development Bank offers notes.
- Article from:
- PR Newswire
- Article date:
- June 19, 1990
CopyrightCOPYRIGHT 1990 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)
|
AFRICAN DEVELOPMENT BANK OFFERS NOTES
NEW YORK, June 19 /PRNewswire/ -- The African Development Bank today offered $300 million of 9.30 percent subordinated notes of 1990, due July 1, 2000. The issue was priced at 99.55 percent to yield 9.37 percent and will be rated "Aa1" by Moody's, "AA+" by Fitch and "AA-" by Standard & Poor's. Kidder, Peabody & Co. Incorporated acted as lead manager in the transaction and the co-managers were Pryor, McClendon, Counts & Co., Inc., Goldman, Sachs & Co. and Salomon Brothers Inc.
Proceeds of the offering will be used to further the economic development of the bank's 50 African members. The Republic of South Africa ...