FundraiseAug 21, 2026, 09:15 UTC

ADB raises $2B in 10-year global bond, part of $45B 2026 plan

What's the deal? The Asian Development Bank (ADB) has raised $2 billion through a 10-year global bond, its second 10-year US dollar benchmark of 2026. BMO Capital Markets, BNP Paribas, Deutsche Bank, and Nomura managed the transaction, placing the debt with investors worldwide.

The terms: The bond matures on August 26, 2036, and carries a 4.625% annual coupon paid twice a year. It priced at 99.431%, a yield 4.8 basis points above comparable US Treasury notes.

Who bought in? Demand spanned regions, with 54% allocated to Europe, the Middle East, and Africa — the largest share. The Americas took 28% and Asia 18%. Central banks and official institutions bought 44%, banks 33%, and fund managers and others 23%.

What's the endgame? Proceeds join ADB's ordinary capital resources, which fund investments across its developing member countries tied to economic growth, resilience, and living standards. The deal is one piece of a larger program: ADB expects to raise $39 billion to $45 billion from global markets in 2026.

Why now? Treasurer Tobias Hoschka said demand reflected "continued investor confidence in ADB's financial position and development mandate." Repeat access to bond markets lets ADB channel private capital into development projects across Asia and the Pacific.

The signal: The $2 billion issue ranks among the largest debt raises tied to the Philippines, sitting in the top 1% of such deals on record. It underscores steady appetite among central banks and institutional buyers for development-bank paper, even as ADB stacks benchmark issues to hit its annual funding target.