Chicago, April 23 – European Bank for Reconstruction and Development sold an additional $50 million tap of floating-rate global notes due Feb. 20, 2028 (Aaa/AAA/AAA) at 100.139, according to a distribution report filed with the Securities and Exchange Commission on Tuesday.
The floaters carry a coupon of SOFR plus 33 basis points.
The additional notes will be combined with the $750 million issued on Feb. 20, $50 million issued on March 8, $50 million issued on March 11, $50 million issued on March 14, $125 million issued on March 19, $50 million issued on March 21, $150 million issued on March 27, $50 million issued on April 11 and $45 million issued on April 18.
Merrill Lynch International is the initial purchaser for the additional notes.
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
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| Amount: | $50 million
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| Issue: | Floating-rate global notes
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| Maturity: | Feb. 20, 2028
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| Dealer: | Merrill Lynch International
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| Counsel to issuer: | Cleary Gottlieb Steen & Hamilton LLP
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| Coupon: | SOFR plus 33 bps
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| Price: | 100.077, plus 17 days’ accrued interest
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| Pricing date: | March 6
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| Issue date: | March 8
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Fitch: AAA
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| Cusip: | 29875BAK2
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| Total issue size: | $1.37 billion, including $750 million issued on Feb. 20, $50 million issued on March 8, $50 million issued on March 11, $50 million issued on March 14, $125 million issued on March 19, $50 million issued on March 21, $150 million issued on March 27, $50 million issued on April 11 and $45 million issued on April 18
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