ADB To Sell $267M In Bonds For Asian Water Projects

Law360, New York (January 27, 2012, 5:25 PM EST) -- The Asian Development Bank is selling roughly $267 million in bonds to Japanese investors to finance clean water and irrigation projects in Asia and the Pacific, the Manila, Philippines-based bank announced Friday.

The development bank is issuing in February 474.5 million Turkish lira-denominated bonds ($267 million) through Daiwa Securities Group Inc. The three-year bonds pay 6.29 percent annually and will be distributed to Japanese retail and institutional investors, ADB says.

“Hundreds of millions of people in developing Asia don’t have clean water to drink. Water to...
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