Chicago, March 11 – European Bank for Reconstruction and Development priced $1 billion of 4.25% global notes due 2034, according to a filing with the Securities and Exchange Commission.
The notes priced at 99.469 to yield 4.316%. The spread priced as 53 basis points over mid-swaps, or at Treasuries plus 16.7 bps.
Price talk started in the mid-swaps plus 53 bps area.
The joint lead managers were Citigroup Global Markets Inc., Goldman Sachs International, HSBC Bank plc and J.P. Morgan Securities plc.
Over 40 investors put in orders amounting to over $1.9 billion.
The deal is the first 10-year dollar global bond in 20 years. It also represents the second dollar benchmark this year, following a $2.5 billion sale in February.
The notes will be listed in London.
The financial institution is based in London.
| Issuer: | European Bank for Reconstruction and Development
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| Amount: | $1 billion
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| Issue: | Global bonds
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| Maturity: | March 13, 2034
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| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs International, HSBC Bank plc and J.P. Morgan Securities plc
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| Co-managers: | Banco Bilbao Vizcaya Argentaria, SA, Credit Agricole CIB, Daiwa Capital Markets Europe Ltd., ING Bank NV, Belgium Branch, Merrill Lynch International, Skandinaviska Enskilda Banken AB (publ) and Societe Generale
|
| Coupon: | 4.25%
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| Price: | 99.469
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| Yield: | 4.316%
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| Spread: | Mid-swaps plus 53 bps, or Treasuries plus 16.7 bps
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| Trade date: | March 5
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| Settlement date: | March 13
|
| Distribution: | Registered global notes
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| Price talk: | Mid-swaps plus 53 bps area
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| Cusip: | 29874QFB5
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