Manila, July 13, 2006 AEST (ABN Newswire) - Asian Development Bank (ASX: ATB) has reduced its lending rates for both its US dollar and Japanese yen single currency pool-based loans.
For the period 1 July to 31 December 2006, the lending rate for US dollar pool-based loans will decrease to 5.86% from 5.94%. This reflects the average cost of borrowings - 5.46% per annum from 1 January to 30 June 2006 plus a spread of 0.40% per annum (this represents a lending spread of 0.60% less a waiver of 0.20%).
During the same period, the lending rate for the Japanese yen pool-based loans will fall to 1.46% from 1.49%. This reflects the average cost of borrowings for the pool of 1.06% per annum from 1 January to 30 June 2006 plus a spread of 0.40% per annum (this represents a lending spread of 0.60% less a waiver of 0.20%).
ADB has also announced its rebate for LIBOR-based loans for the period 1 January to 30 June 2006. For US dollar LIBOR-based loans that were billed with a rate of LIBOR plus 0.40% during the six months, the rebate is 0.31% per annum, unchanged from the previous period.
For Japanese yen LIBOR-based loans that were billed with a rate of LIBOR plus 0.40% per annum during the period 1 January to 30 June 2006, the rebate is 0.34% per annum, which is lower than the 0.39% rebate from the previous period. The rates reflect ADB's average cost of borrowings dedicated to LIBOR-based loans in their respective currencies.
Contact
Graham Dwyer
Email: gdwyer@adb.org
Tel:+632 632 5253; +632 898 3413; +63 915 741 4363
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