EBRD talks $1.75 billion three-year notes at mid-swaps plus 3 bps

By Devika Patel

Knoxville, Tenn., April 19 – The European Bank for Reconstruction and Development (Aaa/AAA/AAA) set the spread and size for a $1.75 billion offering of three-year global benchmark notes at mid-swaps plus 3 basis points, according to a market source on Thursday. The deal was announced Wednesday, and guidance was in the mid-swaps plus 2 bps area.

The bonds are due April 26, 2021.

The indications of interest are in excess of $2 billion.

BNP Paribas Securities Corp., BofA Merrill Lynch, HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC are the bookrunners.

Pricing was expected on Thursday. Settlement is expected on April 26.

The financial institution is based in London.

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