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EIB tenders for some of two floater series, to be funded by new issue
By Susanna Moon
Chicago, Feb. 25 - European Investment Bank announced a tender offer for a maximum purchase amount of two series of notes, which will be funded by a new issue of bonds expected to price Tuesday.
The company is offering to repurchase its £3.6 billion of floating-rate bonds due February 2015 and its £3.45 billion of floating-rate bonds due January 2016, according to a company press release.
The offer does not have a minimum tender condition but does require pricing of the new bonds.
The tender offer was expected to begin Tuesday and end with the pricing of the new issue, with settlement set for March 3.
The purchase price for each £1,000 nominal amount will be £1,000.69 for the floaters due 2015 and £1,000.04 for the floaters due 2016.
The company also will pay accrued interest to the settlement date.
Deutsche Bank AG, London Branch (attn: liability management group, +44 207 545 8011, fax +44 113 223 6121 or email liability.management@db.com) and HSBC Bank plc (attn: liability management group, +44 20 7992 6237 or email liability.management@hsbcib.com) are the dealer managers.
Luxembourg-based European Investment Bank is the bank for the European Union.
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