By Cristal Cody
Tupelo, Miss., July 1 – The European Bank for Reconstruction and Development (Aaa/AAA/AAA) priced an upsized $1.5 billion offering of 0.25% three-year global notes on Tuesday at mid-swaps plus 7 basis points, or a spread of Treasuries plus 12.15 bps, according to a market source.
The notes were initially talked to price in the mid-swaps plus 7 bps area.
The deal was upsized from $1 billion.
BMO Capital Markets Corp., Citigroup Global Markets Ltd., HSBC Bank plc and Morgan Stanley & Co. International plc were the bookrunners.
The financial institution is based in London.
| Issuer: | European Bank for Reconstruction and Development
|
| Amount: | $1.5 billion
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| Description: | Global notes
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| Maturity: | July 10, 2023
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| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Ltd., HSBC Bank plc and Morgan Stanley & Co. International plc
|
| Coupon: | 0.25%
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| Spread: | Mid-swaps plus 7 bps, or Treasuries plus 12.15 bps
|
| Trade date: | June 30
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 7 bps area
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