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EIB to buy £250 million of 1.5% bonds due 2019 in one-day tender
By Susanna Moon
Chicago, Nov. 16 – European Investment Bank said it plans to purchase £250 million of its £5,575,000,000 outstanding 1.5% bonds due Feb. 1, 2019 in the one-day capped offer that ended at 8 a.m. ET on Thursday.
Pricing was set at 10 a.m. ET on Thursday.
EIB received preferred tenders for £183 million of the bonds and plans to accept all of those for purchase, according to the non-binding results of the offer.
The issuer also took in another £67 million of non-preferred tenders and will purchase all of those notes as well.
Pricing was scheduled for 10 a.m. ET on Wednesday using the 4.5% U.K. Treasury gilt due March 7, 2019 plus a purchase spread of 14 basis points.
Settlement has been set for Nov. 21.
The dealer managers are Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com), Deutsche Bank AG, London Branch (+44 20 7545 8011) and Toronto-Dominion Bank (+44 20 7628 2262).
EIG said it plans to price a tap of its U.K. sterling-denominated 1.125% bonds due Sept. 7, 2021 with settlement expected to occur on Nov. 28.
The lender for the European Union is based in Kirchberg, Luxembourg.
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