New Issue: Council of Europe Development prices $1 billion 1.625% five-year notes at 42 bps spread

By Aleesia Forni

New York, March 9 – Council of Europe Development Bank priced $1 billion of 1.625% five-year global notes at mid-swaps 42 basis points on Wednesday, according to an FWP filed with the Securities and Exchange Commission.

The notes (Aa1/AA+/AA+) sold in line with guidance and priced at 99.585 to yield 1.712%, or Treasuries plus 33.35 bps.

Bookrunners are Barclays, Credit Agricole, HSBC Securities and TD Securities.

The financing and development institution for social projects in Europe is based in Paris.

Issuer:	Council of Europe Development Bank
Amount:	$1 billion
Description:	Senior global notes
Maturity:	March 16, 2021
Bookrunners:	Barclays, Credit Agricole, HSBC Securities, TD Securities
Coupon:	1.625%
Price:	99.585
Yield:	1.712%
Spread:	Mid-swaps plus 42 bps, Treasuries plus 33.35 bps
Trade date:	March 9
Settlement date:	March 16
Ratings:	Moody’s: Aa1
	Standard & Poor’s: AA+
	Fitch: AA+
Distribution:	SEC registered
Price guidance:	Mid-swaps plus 42 bps area

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