Asian Development Bank’s $3.5 Billion Bond Offering

Cleary Gottlieb represented the managers, led by Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, J.P. Morgan Securities plc, and Merrill Lynch International, in the offering.

The global medium-term note offering were issued by the Asian Development Bank.

The US $3.5 billion 1.50% notes are due January 20, 2027, priced on January 11, 2022 and are expected to close on January 20, 2022.

The Asian Development Bank, headquartered in Manila, Philippines, is a regional multilateral organization established in 1966. With a mission to facilitate prosperous, inclusive, resilient, and sustainable economic development in Asia, it has grown to encompass 68 members since its establishment, of which 49 are from within Asia and the Pacific and 19 outside.

The Cleary corporate team for this transaction is based in New York and included partner Jeffrey Karpf (Picture), senior attorney Elizabeth Chang, associate David Friedman, law clerk Harry Morgan, and corporate practice attorney Christine Whited.

Involved fees earner: Elizabeth Chang – Cleary Gottlieb Steen & Hamilton; David Friedman – Cleary Gottlieb Steen & Hamilton; Jeffrey Karpf – Cleary Gottlieb Steen & Hamilton; Christine Whited – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Citigroup Global Markets Ltd; Deutsche Bank AG London Branch; J.P. Morgan Securities LLC; Merrill Lynch International;