By Cristal Cody
Tupelo, Miss., Feb. 6 – The Council of Europe Development Bank (Aa1/AA+/AA+) priced $1 billion of 2.625% five-year senior global notes on Tuesday at 99.628 to yield 2.705%, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes priced with a spread of mid-swaps plus 11 basis points, or Treasuries plus 21.8 bps. The issue was initially talked to price in a $1 billion offering with a spread in the mid-swaps plus 14 bps area.
Goldman Sachs International, HSBC Bank plc, Nomura Securities International, Inc. and TD Securities (USA) LLC were the lead managers.
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 global notes
|
| Maturity: | Feb. 13, 2023
|
| Bookrunners: | Goldman Sachs International, HSBC Bank plc, Nomura Securities International, Inc. and TD Securities (USA) LLC
|
| Coupon: | 2.625%
|
| Price: | 99.628
|
| Yield: | 2.705%
|
| Spread: | Mid-swaps plus 11 bps, or Treasuries plus 21.8 bps
|
| Trade date: | Feb. 6
|
| Settlement date: | Feb. 13
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
|
| Fitch: AA+
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 14 bps area
|
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