By William Gullotti
Buffalo, N.Y., March 7 – European Bank for Reconstruction and Development priced a $50 million tap of floating-rate global notes due Feb. 20, 2028 (Aaa/AAA/AAA) at 100.077 on Wednesday, according to a distribution report filed under Rule 3 of Regulation EBRD with the Securities and Exchange Commission.
The additional notes will be combined with the initial $750 million issued on Feb. 20, 2024.
The floaters carry a coupon of SOFR plus 33 basis points.
Citigroup Global Markets Ltd. is the dealer.
Proceeds will be used for ordinary capital resources and operations.
The issuer is applying to list the notes on the London Stock Exchange.
The financial institution is based in London.
| Issuer: | European Bank for Reconstruction and Development
|
| Amount: | $50 million add-on
|
| Issue: | Floating-rate global notes
|
| Maturity: | Feb. 20, 2028
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| Dealer: | Citigroup Global Markets Ltd.
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| Coupon: | SOFR plus 33 bps
|
| Price: | 100.077, plus 17 days’ accrued interest
|
| Pricing date: | March 6
|
| Issue date: | March 8
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Cusip: | 29875BAK2
|
| Total issue: | $800 million, including initial $750 million issued Feb. 20, 2024
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