ADB revises lending rates
FE Report | Friday, 25 July 2008
The Asian Development Bank (ADB) has revised its lending rates for both its US dollar and Japanese yen loans, said a press release.
For the period July 1 to December 31 2008, the lending rate for US dollar pool-based loans will decrease from 6.12 per cent to 5.64 per cent. This reflects the average cost of borrowings-5.24 per cent per annum from January 1 to June 30 2008 plus a spread of 0.40 per cent per annum (representing a lending spread of 0.60 per cent less a waiver of 0.20 per cent).
During the same period, the lending rate for the Japanese yen pool-based loans will increase from 1.90 per cent to 1.98 per cent. This reflects the average cost of borrowings for the pool-1.58 per cent per annum from January 1 to June 30 2008 plus a spread of 0.40 per cent per annum (representing a lending spread of 0.60 per cent less a waiver of 0.20 per cent).
ADB has also announced its rebate for LIBOR-based loans for the period July 1 to December 31 2008.
For general US dollar LIBOR-based loans, the rebate will decrease from 0.34 per cent to 0.33 per cent. For Japanese yen LIBOR-based loans, the rebate will increase from 0.31 per cent to 0.39 per cent. This reflects the average sub-LIBOR cost of borrowings during the period of January 1 to June 30 2008.
For LIBOR-based loan that was converted from the pool-based loans, the rebate will be 0.08 per cent for US dollar loans and 0.07 per cent for Japanese yen loans.
For the period July 1 to December 31 2008, the lending rate for US dollar pool-based loans will decrease from 6.12 per cent to 5.64 per cent. This reflects the average cost of borrowings-5.24 per cent per annum from January 1 to June 30 2008 plus a spread of 0.40 per cent per annum (representing a lending spread of 0.60 per cent less a waiver of 0.20 per cent).
During the same period, the lending rate for the Japanese yen pool-based loans will increase from 1.90 per cent to 1.98 per cent. This reflects the average cost of borrowings for the pool-1.58 per cent per annum from January 1 to June 30 2008 plus a spread of 0.40 per cent per annum (representing a lending spread of 0.60 per cent less a waiver of 0.20 per cent).
ADB has also announced its rebate for LIBOR-based loans for the period July 1 to December 31 2008.
For general US dollar LIBOR-based loans, the rebate will decrease from 0.34 per cent to 0.33 per cent. For Japanese yen LIBOR-based loans, the rebate will increase from 0.31 per cent to 0.39 per cent. This reflects the average sub-LIBOR cost of borrowings during the period of January 1 to June 30 2008.
For LIBOR-based loan that was converted from the pool-based loans, the rebate will be 0.08 per cent for US dollar loans and 0.07 per cent for Japanese yen loans.