By Devika Patel and Cristal Cody
Knoxville, Tenn., Sept. 15 – The Council of Europe Development Bank priced $1 billion of 0.875% five-year senior notes (Aa1/AAA/AA+) on Wednesday at a spread of mid-swaps minus 1 basis point or Treasuries plus 9.5 bps, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.972 to yield 0.89%.
Initial price talk was in the mid-swaps minus 1 bp area with the notes launching at mid-swaps minus 1 bp.
BofA Securities, Barclays, JPMorgan and RBC Capital Markets were bookrunners for the deal.
The Paris-based Council of Europe Development Bank finances social projects to member states, financial institutions and local authorities for projects, including public infrastructure and low-income housing.
| Issuer: | Council of Europe Development Bank
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | Sept. 22, 2026
|
| Bookrunners: | BofA Securities, Barclays, JPMorgan and RBC Capital Markets
|
| Coupon: | 0.875%
|
| Price: | 99.972
|
| Yield: | 0.89%
|
| Spread: | Mid-swaps minus 1 bp, or Treasuries plus 9.5 bps
|
| Trade date: | Sept. 15
|
| Settlement date: | Sept. 22
|
| Ratings: | Moody’s: Aa1
|
| S&P: AAA
|
| Fitch: AA+
|
| Distribution: | SEC registered
|
| Price guidance: | Launched at mid-swaps minus 1 bp; initial talk mid-swaps minus 1 bp area
|
| Cusip: | 222213AY6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
