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EIB to buy £218.67 million of 1.5% bonds due 2019 in one-day tender
By Susanna Moon
Chicago, April 19 – European Investment Bank (EIB) said it accepted for purchase £218,673,000 of its £5,325,000,000 outstanding 1.5% bonds due Feb. 1, 2019 in the one-day tender that ended at 7:30 a.m. ET on Thursday.
The issuer will accept for purchase all of the £30,673,000 preferred tenders and £188 million non-preferred tenders, according to a company announcement.
The purchase price was set at 100.519% of par using the 4.5% U.K. Treasury gilt due March 7, 2019 at 9 a.m. ET on Thursday plus 7 basis points for a benchmark rate of 0.753% and a purchase yield of 0.825%.
EIB sold another £250 million of 1.125% bonds due Sept. 7, 2021 in a tap issue on Thursday, with the issue date set for May 3.
The dealer managers are Merrill Lynch International (+44 20 7996 5420 or DG.LM_EMEA@baml.com) and Toronto-Dominion Bank (+44 20 7628 2262 or tmg@tdsecurities.com).
As announced Nov. 16, 2017, the bank also purchased £250 million of its £5,575,000,000 outstanding 1.5% bonds due Feb. 1, 2019 in the one-day capped offer that day.
EIB accepted all of the preferred tenders for £183 million and all £67 million of the non-preferred tenders.
The lender for the European Union is based in Kirchberg, Luxembourg.
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