New Issue: EBRD sells $1 billion 1.625% five-year notes to yield mid-swaps flat

By Andrea Heisinger

New York, July 25 - The European Bank for Reconstruction and Development priced $1 billion of 1.625% five-year global notes (Aaa/AAA/AAA) on Thursday at a spread of mid-swaps flat, or Treasuries plus 27.9 basis points, an informed source said.

Pricing was at 99.578.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and TD Securities (USA) LLC were the bookrunners.

The lender to banks, businesses and industries is based in London.

Issuer:	European Bank for Reconstruction and Development
Issue:	Global notes
Amount:	$1 billion
Maturity:	Nov. 15, 2018
Bookrunners:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., TD Securities (USA) LLC
Coupon:	1.625%
Price:	99.578
Spread:	Mid-swaps flat, Treasuries plus 27.9 bps
Trade date:	July 25
Settlement date:	Aug. 1
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA

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