SAN ANTONIO--(BUSINESS WIRE)--The North American Development Bank (NADB), a San Antonio-based international financial institution, has completed a US$250 million bond issuance. BNP Paribas and BofA Merrill Lynch jointly managed the issuance. The bond will mature on October 26, 2022 and pay a coupon rate of 2.40%. Net proceeds will be used to fund NADB’s lending operations.
Established in 1994, the NADB makes loans and grants and provides technical assistance for the development of infrastructure that promotes a clean and healthy environment in the U.S.-Mexico border region.
“We are pleased with this transaction which was very well received by the market. This is a reflection of NADB’s credit ratings, Aaa and AA+ by Moody’s and Standard & Poor’s, respectively,” stated NADB Managing Director Gerónimo Gutiérrez, adding, “The terms obtained by NADB will ultimately benefit our project sponsor communities throughout the U.S.-Mexico border region.”
About NADB
The North American Development Bank is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank works to develop environmentally and financially sustainable projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States.
More information regarding the NADB and its operations can be obtained at www.nadb.org.