New Issue: EBRD sells $1.75 billion 0.5% five-year notes at mid-swaps plus 19 bps

By Cristal Cody

Tupelo, Miss., May 12 – The European Bank for Reconstruction and Development (Aaa/AAA/AAA) priced $1.75 billion of 0.5% five-year global notes on Tuesday at mid-swaps plus 19 basis points, or a spread of Treasuries plus 19.9 bps, according to a market source.

The bonds were initially talked to price in the mid-swaps plus 20 bps area.

Barclays, J.P. Morgan Securities plc, Nomura Securities International, plc and TD Securities (USA) LLC were the bookrunners.

The financial institution is based in London.

Issuer:	European Bank for Reconstruction and Development
Amount:	$1.75 billion
Description:	Global notes
Maturity:	May 19, 2025
Bookrunners:	Barclays, J.P. Morgan Securities plc, Nomura Securities International, plc and TD Securities (USA) LLC
Coupon:	0.5%
Spread:	Mid-swaps plus 19 bps, or Treasuries plus 19.9 bps
Trade date:	May 12
Ratings:	Moody’s: Aaa
	S&P: AAA
	Fitch: AAA
Price talk:	Mid-swaps plus 20 bps area

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