New Issue: EBRD prices $1.75 billion 2.75% three-year global notes at mid-swaps minus 3 bps

By Devika Patel

Knoxville, Tenn., April 19 – European Bank for Reconstruction and Development priced $1.75 billion of 2.75% three-year global benchmark notes (Aaa/AAA/AAA) at 99.923 to yield 2.777%, or mid-swaps minus 3 basis points, on Thursday, according to a market source.

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

The financial institution is based in London.

Issuer:	European Bank for Reconstruction and Development
Description:	Global benchmark notes
Amount:	$1.75 billion
Maturity:	April 26, 2021
Bookrunners:	BNP Paribas Securities Corp., BofA Merrill Lynch, HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC
Coupon:	2.75%
Price:	99.923
Yield:	2.777%
Spread:	Mid-swaps minus 3 bps
Trade date:	April 19
Settlement date:	April 26
Ratings:	Moody’s: Aaa
	S&P: AAA
	Fitch: AAA

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