By Cristal Cody
Tupelo, Miss., Feb. 28 – The European Bank for Reconstruction and Development (Aaa/AAA/AAA) priced $1.5 billion of 2.75% five-year global notes on Wednesday at a spread of mid-swaps plus 7 basis points, according to a market source.
The notes were initially talked to price with a spread in the mid-swaps plus 9 bps area.
BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and TD Securities (USA) LLC were the lead managers.
The financial institution is based in London.
| Issuer: | European Bank for Reconstruction and Development
|
| Amount: | $1.5 billion
|
| Description: | Global notes
|
| Maturity: | March 7, 2023
|
| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and TD Securities (USA) LLC
|
| Coupon: | 2.75%
|
| Spread: | Mid-swaps plus 7 bps, or Treasuries plus 18.05 bps
|
| Trade date: | Feb. 28
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 9 bps area
|
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