SAN ANTONIO--(EON: Enhanced Online News)--The North American Development Bank (NADB), a San Antonio-based international financial institution, has completed a US$300 million bond issuance. BofA Merrill Lynch and BNP Paribas jointly managed the issuance. The bond will mature on October 10, 2018 and pay a coupon rate of 2.30%. Net proceeds will be used to fund NADB’s lending operations.
Established in 1994 by the U.S. and Mexican governments, 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.
To date, NADB has contracted US$2.20 billion in loans and grants for 188 projects throughout the U.S.-Mexico border region. These projects are estimated to have a total cost of US$5.58 billion and will benefit an estimated 14.4 million border residents when fully constructed.
NADB has a total capitalization of US$2.7 billion, of which $405 million is paid-in capital and the remainder is callable capital from the U.S. and Mexican governments.
More information regarding the NADB and its operations can be obtained at www.nadb.org.