By Rebecca Melvin
Concord, N.H., March 30 – The European Investment Bank (Aaa/AAA/AAA) priced a €250 million tap of its 1.5% climate awareness bonds on Tuesday at 124.139 to yield 0.525%, or mid-swaps plus 2 basis points, according to a syndicate source.
Pricing was tight to guidance for a yield in the area of mid-swaps plus 4 bps.
The new outstanding amount for the issue is €1.75 billion.
The joint bookrunners of the add-on are BNP Paribas, Commerzbank, Deutsche Bank and DZ Bank.
Proceeds will be allocated to the bank’s lending projects within the fields of renewable energy and energy efficiency.
The lender for the European Union is based in Kirchberg, Luxembourg.
| Issuer: | European Investment Bank
|
| Amount: | €250 million
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| Description: | Climate awareness bond
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| Maturity: | Nov. 15, 2047
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| Bookrunners: | BNP Paribas, Commerzbank, Deutsche Bank and DZ Bank
|
| Coupon: | 1.5%
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| Price: | 124.139
|
| Yield: | 0.525%
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| Spread: | Mid-swaps plus 2 bps
|
| Trade date: | March 30
|
| Settlement date: | April 13
|
| Ratings: | Moody’s: Aaa
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| S&P: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 4 bps area
|
| Total amount: | €1.75 billion, including €1.5 billion priced previously
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