By Cristal Cody
Tupelo, Miss., Feb. 6 – The European Bank for Reconstruction and Development (Aaa/AAA/AAA) priced an upsized $925 million of 1.5% five-year sustainability bonds on Thursday at mid-swaps plus 7 basis points, or a spread of 7.65 bps over Treasuries, according to a market source.
The bonds were initially talked to price in the mid-swaps plus 8 bps area with guidance tightened to mid-swaps plus 7 bps area.
The deal was upsized from $500 million.
BofA Securities, Inc., Credit Agricole CIB and Morgan Stanley & Co. LLC were the bookrunners.
The financial institution is based in London.
| Issuer: | European Bank for Reconstruction and Development
|
| Amount: | $925 million
|
| Description: | Sustainability bonds
|
| Maturity: | Feb. 13, 2025
|
| Bookrunners: | BofA Securities, Inc., Credit Agricole CIB and Morgan Stanley & Co. LLC
|
| Coupon: | 1.5%
|
| Spread: | Mid-swaps plus 7 bps, or Treasuries plus 7.65 bps
|
| Trade date: | Feb. 6
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 7 bps area; initial talk at mid-swaps plus 8 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
