By Cristal Cody
Tupelo, Miss., Oct. 10 – The European Bank for Reconstruction and Development (Aaa/AAA/AAA) priced a $350 million add-on to its global floating-rate notes due Aug. 19, 2022 on Thursday at the Secured Overnight Financing Rate plus 26 basis points, according to a market source.
Initial price talk was at the SOFR plus 26 bps area.
Morgan Stanley & Co. LLC and TD Securities (USA) LLC were the bookrunners.
EBRD first priced $600 million of the notes on Aug. 21 at par to yield SOFR plus 26 bps. The bank issued a $50 million reopening on Sept. 26 at 100.001. The total outstanding is now $1 billion.
The financial institution is based in London.
| Issuer: | European Bank for Reconstruction and Development
|
| Amount: | $350 million reopening
|
| Description: | Global floating-rate notes
|
| Maturity: | Aug. 19, 2022
|
| Bookrunners: | Morgan Stanley & Co. LLC and TD Securities (USA) LLC
|
| Coupon: | SOFR plus 26 bps
|
| Trade date: | Oct. 10
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
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| Price talk: | SOFR plus 26 bps area
|
| Total outstanding: | $1 billion, including $600 million of notes priced Aug. 21 and issued Aug. 29 at par to yield SOFR plus 26 bps and $50 million of notes issued Sept. 26 at 100.001
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