The Inter-American Development Bank priced a new USD3.5 billion 3-year global benchmark with a semi-annual coupon of 0.50%, the multilateral lender announced today in public statement.

The fixed-rate bond, which matures on September 23, 2024, was priced with a spread of 14 bps SOFR mid-swaps, which equates to 8.6 basis points over 0.375% UST due September 2024 and carries a semi-annual yield of 0.525%, the bank said.

With the transaction the IDB completes its fourth issuance of fixed-rate bonds this year: one 10-year USD4 billion SDB Global benchmark in January, a USD4.25 billion 5-year in April and a USD3 billion 7-year in July.

The bank said the transaction received a “strong investor momentum from the outset,” with Indications of Interest (“IOIs”) in excess of $2.8 billion, and final demand above $5 billion.