EIB to use proceeds from $1 billion note issuance for energy projects

By Lisa Kerner

Charlotte, N.C., Oct. 10 – The European Investment Bank will use the net proceeds from its $1 billion offering of 2.5% 10-year notes for lending projects in the fields of renewable energy and energy efficiency, according to a form 424(b)(5) filed with the Securities and Exchange Commission.

The lending projects include but are not limited to the following:

• Renewable energy projects such as wind, hydro, solar and geothermal production; and

• Energy efficiency projects such as district heating, co-generation, building insulation, energy loss reduction in transmission and distribution and equipment replacement.

As previously reported, EIB sold the offering (Aaa/AAA/AAA) on Wednesday at 99.177 to yield mid-swaps plus 9 basis points.

Credit Agricole, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC ran the books.

According to the filing, the European Union and its long-term financing institution, the EIB, have made climate change mitigation and adaptation a policy priority. The EIB supports the European Union’s goal of low-carbon and climate-resilient growth within and outside the European Union, the filing stated.

EIB is based in Kirchberg, Luxembourg.

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