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stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Asian Development Bank sells $3.5bn global benchmark bond

Cars drive past the Manila headquarters of the Asian Development Bank. (AFP)
  • The issue achieved wide primary market distribution with 49 percent placed in Europe, Middle East, and Africa.
  • The bank plans to raise about $28 billion–$30 billion from the capital markets in 2023.

Dubai, UAE — The Asian Development Bank (ADB) priced a $3.5 billion five-year global bond, proceeds of which will be part of ADB’s ordinary capital resources.

Priced on 18 April, the bond, with a coupon rate of 3.75 percent per annum payable semi-annually and a maturity date of 25 April 2028, was priced at 99.725 percent to yield 16.50 basis points over the 3.625 percent US Treasury notes due March 2028.

The transaction was lead-managed by BMO Capital Markets, BNP Paribas, BofA Securities, and HSBC. A syndicate group was also formed consisting of Rabobank, Standard Chartered Bank, and Wells Fargo Securities.

The issue achieved wide primary market distribution with 49 percent placed in Europe, Middle East, and Africa, 34 percent in the Americas and 17 percent in Asia. While 48 percent went to central banks and official institutions, 40 percent went to banks and 12 percent to fund managers and other types of investors.

ADB plans to raise about $28 billion–$30 billion from the capital markets in 2023.

“We appreciate the consistent support from investors across regions, providing ADB with additional resources as we support our developing member countries in managing climate change risks and the human impact of the pandemic,” said ADB Treasurer Pierre Van Peteghem.