By Mary Katherine Stinson and Cristal Cody
Lexington, Ky., Jan. 19 – European Bank for Reconstruction and Development priced $2.5 billion of 4.125% five-year global notes at SOFR mid-swaps plus 39 basis points or, alternatively, Treasuries plus 13.2 bps, on Thursday, according to a market source.
Initial price talk was in the SOFR mid-swaps plus 42 bps area. Guidance firmed 2 bps to the SOFR mid-swaps 40 bps area.
Barclays, Deutsche Bank, Morgan Stanley and Scotia are the bookrunners.
The financial institution is based in London.
| Issuer: | European Bank for Reconstruction and Development
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| Amount: | $2.5 billion
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| Issue: | Notes
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| Maturity: | Jan. 25, 2029
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| Bookrunners: | Barclays, Deutsche Bank, Morgan Stanley and Scotia
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| Coupon: | 4.125%
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| Spread: | SOFR mid-swaps plus 39 bps, or Treasuries plus 13.2 bps
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| Pricing date: | Jan. 18
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| Price talk: | SOFR mid-swaps plus 42 bps area; guidance SOFR mid-swaps plus 40 bps area
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