On 11 July 2013, the EIB issued a EUR 650m Climate Awareness Bond. The issue carries an annual coupon of 1.375%, has a final maturity date of 15 November 2019 and has been priced in line with the existing EIB ECoop curve at MS+4 bps. For further information, please see the press release .
CAB due Nov 2019 now the largest green bond outstanding in any currency
Tap timed on the publication of Green Bond Principles by key market promoters
Proceeds earmarked for use in the fields of renewable energy and energy efficiency
On 13 January, the European Investment Bank („EIB‟) re-opened the EUR green bond market with the first transaction of the year, a EUR 350m tap of the Climate Awareness Bond (CAB) due 15 November 2019. Total size after the increase is a record EUR 1.5bn, which makes this issue the largest climate-themed bond outstanding in any currency. The transaction
On 8 January, the European Investment Bank („EIB‟) priced a new CHF 350 million Climate Awareness Bond (CAB). The issue carries an annual coupon of 1.625% and has a final maturity date of 4 February 2025. This is EIB’s first CAB transaction of the year, and the first ever CHF-denominated Climate Awareness Bond. The issue was placed with Swiss investors. Climate Awareness Bonds raise... an environmental-themed bond – the Climate Awareness Bond. Since inception, CABs have raised EUR 3.4bn equivalent. 2013 was a record year for CAB issuance – the EIB issued its largest annual volume ever
The Project Bond initiative is a joint initiative by the European Commission and the EIB. Its objective is to stimulate capital market financing for large-scale infrastructure projects in the sectors... objectives in these sectors could reach as much as EUR 2 trillion. The Project Bond initiative is designed to enable eligible infrastructure projects promoters, usually public private partnerships (PPP... to those promoters, whose debt will effectively be divided into two tranches: senior and subordinated. The subordinated debt, or Project Bond Credit Enhancement (PBCE) can take the form of a loan from
CAB 11/19 increased to largest Green Bond in any currency
Total CAB-issuance expanded to EUR 4.3bn
EUR 500m tap driven by SR investors buying CABs in EUR for the first time
On 18 th February 2014, the European Investment Bank (‘EIB’) priced the fourth and largest tap of the EUR Climate Awareness Bond due November 2019, the most sizeable Green Bond outstanding in any currency. The increase carries a coupon of 1.375% and could be priced in line with EIB’s ECoop secondary market curve, 4 basis points tighter than the original tranche issued on 11 July 2013. The bond is EIB’s first CAB
Size - EUR 650m, the largest climate-themed bond in EUR market ever
Mini-benchmark approach - allowing for liquidity, flexible sizing to investor demand and transparent pricing in line with the EIB... , rated Aaa/AAA/AAA (Moody’s / Standard and Poor’s / Fitch), today issued a EUR 650m Climate Awareness Bond. The issue carries an annual coupon of 1.375%, has a final maturity date of 15 November 2019 and has been priced in line with the existing EIB ECoop curve at MS+4 bps. The bond generated strong demand among a series of investors genuinely interested in the socially responsible features
The Greater Gabbard offshore transmission link has become the first UK based infrastructure project to attract finance from institutional investors using the Project Bond Credit Enhancement... successfully placed with a broad range of investors. Proceeds from the bond issue have been released, the bonds have started trading on the Irish Stock Exchange and technicalities concluded to allow financial close. The European Investment Bank has provided a GBP 45.8 million guarantee, representing 15% of the bond issued, as a credit support under the Project Bond Credit Enhancement model
On July 17, the European Investment Bank (‘EIB’) priced its largest SEK denominated Climate Awareness Bond (CAB) transaction of 2013. The SEK 750 million new issue offers a 7 year maturity and pays a quarterly coupon of 3-Month STIBOR +43bp. The bond was placed with one Scandinavian investor. Climate Awareness Bonds raise funds from fixed income investors to support EIB lending for renewable... ”). Comments on the issue: Eila Kreivi , Director and Head of Capital Markets Dept. at the EIB , said: “EIB’s largest SEK Climate Awareness Bond transaction of the year follows EIB’s largest EUR Climate
On July 30, the European Investment Bank (‘EIB’) priced a SEK 400 million tap of its SEK 750 million Climate Awareness Bond (CAB) maturing on July 24, 2020. The bond was placed with Scandinavian... lending for renewable energy and energy efficiency. The sole Lead Manager for the transaction was Danske Bank.
Summary Terms and Conditions for Bond Issuance:
Issue Amount SEK 400m (bringing... to projects through the annual Corporate Responsibility report and a dedicated Climate Awareness Bond Newsletter. EIB funding strategy and results The Bank’s funding strategy combines a consistent
On 26th February, the European Investment Bank (‘EIB’) priced a new ZAR 300 million Climate Awareness Bond (CAB). The issue carries an annual coupon of 7.75% and has a final maturity date of 12 March... the annual Sustainability Report (formerly Corporate Responsibility Report) and the dedicated Climate Awareness Bond Newsletter. Since inception, CABs have raised EUR 4.6bn equivalent in 7 currencies... demand for this product among the European retail investor community. ” Summary Terms and Conditions for Bond Issuance
Issue Amount ZAR 300m
Pricing Date 26 February 2014
Payment Date 12 March
On 26th January, the EIB, rated Aaa/AAA/AAA (st/-/cw-), issued a new £600m 25-year bond due 8th June 2037.
This is EIB’s first new long dated sterling line in 2012, the longest Supranational or Agency sterling issue of the year, and the largest EIB Sterling issue with maturity over 20 years since February 2009. The bond priced at UKT 4.25% March 2036 +95bps and has a coupon of 3.875%. For further information, please see the Press release .
The European Investment Bank (EIB), the long-term lending arm of the European Union, announced the completion of a new SEK (Swedish Krona) 750m Climate Awareness Bond (CAB) due November 2023... investors with the opportunity to finance projects contributing to climate protection, while enjoying an attractive spread over the relevant Swedish government bond, combined with high credit quality... on demand from a wide range of international and domestic investors, EIB has established a new benchmark bond on its SEK curve at an attractive spread over the Swedish government bond with the same
Today the European Investment Bank (EIB) priced its first bond in domestic Norwegian format geared for the local market. The NOK 1bn (EUR 135m) issue carries a quarterly coupon of 3mNIBOR+20bp and has a final maturity date of 27 th February 2018. It has been placed with local fund managers and bank treasuries. The bond will be registered with the Norwegian Central Securities Depository... record as an issuer in international NOK format. Growing demand from Norwegian institutional accounts eager to diversify their NOK investments has allowed the Bank to launch its first domestic bond
The first transaction under the Project Bond Credit Enhancement initiative has successfully taken place. Investment in the Castor underground gas storage project, that will provide storage for 30% of Spain’s daily gas consumption, was supported by the successful issue of the first European Investment Bank supported project bond. The EIB will provide a total of EUR 500 million for the project. The Castor project is being developed by ACS Group and Dundee Energy and the promoter is the Spanish Ministry of Industry. The EUR 1.4 billion bond issue for the Castor project was supported by a EUR 200
January, the European Investment Bank (EIB), rated Aaa/AAA/AAA (st/-/cw-), issued a new £600m 25-year bond due 8 th June 2037. This is EIB’s first new long dated sterling line in 2012, the longest... , the book was upsized from an initial target level of £300m to £600m, with books closing at 12:30 London time. The final order book was in excess of £650m. The bond priced at UKT 4.25% March 2036 +95bps and has a coupon of 3.875%. The attractive yield level was a key source of appeal for investors. The bond attracted 32 investors, mostly UK real money investors. Almost all orders were on a cash basis
On the 23rd of April, the European Investment Bank (EIB), the long-term lending arm of the European Union (EU) announced completion of a new 7-year SEK (Swedish Krona) 1bn Climate Awareness Bond (CAB). This is EIB’s first new CAB line in 2012. Other CAB issuance this year comprises a tap in February for SEK 700m (residual maturity 3-years). This new Climate Awareness Bond issue offers the opportunity for investors to finance projects involving climate protection, while enjoying an attractive spread over the relevant Swedish government bond and swaps, combined with high credit quality
The Europe 2020 Project Bond Initiative, which aims to improve capital market financing of infrastructure, passed its final approval stage today. Following signature of a Cooperation Agreement between the European Commission and European Investment Bank, clarifying risk sharing, the pilot phase of the project bond initiative is ready for roll-out. “The Project Bond Initiative provides... Commission Vice President Olli Rehn said: "We are providing solutions to support long-term investment and to put the EU back on the road to sustainable growth. The project bond initiative is a key element
This document is to provide a general outline of how it is currently contemplated that the Project Bond Initiative and Project Bonds Credit Enhancement (PBCE) will work. This document is for information purposes only; the terms and conditions of any PBCE may vary substantially from those set out herein. Furthermore, these general terms do not constitute a commitment or undertaking by either the EIB or the European Commission in respect of any PBCE transaction. Any such commitment would require, amongst other things, prior approval from the governing bodies of the EIB. Interested parties
The European Investment Bank has purchased Sekerbank T.A.S. covered bonds worth 120 million Turkish lira (EUR 50 million) in support of SMEs in Turkey. This innovative financing instrument is the first covered bond in Turkey and the first covered bond backed by a portfolio of SME receivables. This facility is intended to support the manufacturing, food processing and services sectors, mainly... (SMEs) has been prioritised since 2009. Today, we are signing a groundbreaking operation by launching a completely new product. This is the first ever SME covered bond in Turkey. It is expected to have
der Klimaschutzanleihen, die in diesem Jahr erfolgten, zählt die Aufstockung einer bestehenden Anleihe um 700 Mio SEK im Februar (Restlaufzeit: 3 Jahre). Dieser neue Climate Awareness Bond bietet...
Hinweis für die Redaktion: Climate Awareness Bond (CAB) Die Erlöse der Klimaschutzanleihen der EIB können, wenngleich nicht ausschließlich, für folgende Vorhaben verwendet werden: Projekte im Bereich
Die EIB wird neue „Climate Awareness Bonds" im Gegenwert von rund 300 Mio EUR in Japan begeben. Die Emission umfasst zwei Tranchen, von denen die eine auf Australische Dollar und die andere auf südafrikanische Rand lautet. Konsortialführer ist die Daiwa Securities Group. Die Besonderheit dieser K...
). The new current coupon bond is targeted at both retail and institutional investors. EIB anticipates that, subject to market demand, this issue will be tapped and built into its five-year current coupon... . A current coupon on this new bond should reinforce EIB's premier position in the institutional market for sterling bonds by attracting retail investors in the UK and continental Europe." Purchasing... . The deal is supported by a selling group consisting of EIB's Retail Dealer Group - Barclays, Deutsche Bank, HSBC, UBS and Winterflood Securities. The bond will be eligible as a "qualifying corporate
The European Investment Bank, the European Unions long-term financing institution, is issuing its first Euro 1 billion bond - ECU 1 billion. The interest rate coupon is 5.25% over seven years. The Bank has appointed La Caisse des Dépôts et Consignations, Banque Paribas, and S.B.C. Warburg as joint lead managers. Commenting on the issue, the EIB's President and Chairman, Sir Brian Unwin said... " Dutch Guilder 1 billion bond under terms that allow the Bank to re-denominate the issue in Euro after January 1999, with the coming into force of EMU-stage III and the creation of the Euro. Over the next
') has today priced a US$ 3 bn Global issue, with a maturity of 15 June 2007. This is the first 3 year supranational Global bond issue since EIB's US$ 3 bn due March 2006 issued in January 2003... to international investor demand for liquid, high quality, short dated assets with this new US$ 3 bn 3 year global. There are over US$ 12 billion of supranational bond redemptions and coupons paying over... The USD funding strategy is based on a foundation of liquidity, transparency and investor diversification, and comprises global bond issuance, targeted eurodollar issues and structured transactions. 2003
The European Investment Bank ("EIB") successfully priced a USD 3 billion 3-year global benchmark issue today, its first benchmark global bond of 2003. Deutsche Bank, Morgan Stanley, and Salomon Smith Barney are the joint lead managers and book-runners for the issue with co-lead managers: ABN AMRO, Barclays, BNP Paribas, Credit Suisse First Boston, Goldman Sachs, HSBC, JP Morgan, Merrill Lynch and Nomura. The new US$ 3 billion benchmark with a maturity of 15 March 2006 pays a coupon of 2.375% and has an Issue price of 99.666%, to give a spread of 71bps over the 2 year US Treasury. EIB's
Am 3. November 2009 begab die EIB neue „Climate Awareness Bonds” (CAB). Dabei handelt es sich um die ersten auf schwedische Kronen lautenden Klimaschutz-Anleihen. Konsortialführer war die Swedbank. Die Anleihen richten sich vor allem an die skandinavischen Anleger der EIB.
Die Bonds mit festem ...
The European Investment Bank (EIB), the European Union's financing institution, is issuing a 1 billion Dutch Guilder bond today. The interest rate will be 5.75% over 10 years. The terms and conditions of the Guilder bond have been structured to create the possibility for the EIB to re-denominate the issue in "Euros" after the entry into force of the third stage of EMU. The conditions also allow the EIB to consolidate this issue with issues in "Euro" or in other currencies that will be "Euro" re-denominated, without discrimination as to currency, to form a single "Euro" issue. The EIB has
denominated bond. This issue is also the first of its kind in the international market issued by a supranational issuer. The issue has a volume of SEK1,000 million (approximately EUR 108 million) and bears an annual coupon linked to the Swedish Consumer Price Index. The bond will be issued under EIB's Programme for Debt Issuance and an application has been made for the bond to be listed on the Luxembourg Stock Exchange. The bond has an issue price of 144.68% and matures on 1st December 2020. The transaction is arranged by SEB Merchant Banking, part of Skandinaviska Enskilda Banken AB. Barbara
The European Investment Bank plans within the next few weeks to issue its first Euro global bond, subject to market conditions. The amount is expected to be Euro 2 billion, with a 10 year maturity... to building up a strong, liquid and well diversified market for the Euro. Our global Euro bond will reinforce our continuing support for Europe's economic and monetary union, and allow us to respond to fast developing interest in high-quality investment in Euro outside Europe, particularly in the USA." As with the Bank's previous Euro and "Euro-tributary" bonds, the new global bond issue
Issue priced at +22 bps over US Treasuries
Balanced and well diversified book internationally
Increases USD Global benchmark outstandings to US$28 bn
Reinforces positioning as largest and most frequent issuer of USD Globals among supranationals
Demonstrates strategic commitment to issue in ke...
’s/Standard & Poors/Fitch), today launched its first international bond issue denominated in PHP (Philippine pesos). The issue is for an amount of PHP 2,000 million (EUR 33m approximately) and carries an annual coupon of 4.15%. The bond is synthetic with settlements and payments in US dollars. It is the first PHP bond to be issued in this format in this asset class. The bond has an issue price of 100.475% and matures 25 January 2013. The transaction was lead managed by HSBC. The bond follows initiatives by the EIB in other emerging currencies in the international capital markets, including
This paper is aimed at PPP procuring authorities ("authorities") and PPP public stakeholders generally. It highlights the key characteristics of bond financing and identifies the main issues that authorities will typically face when PPPs are to be financed with bond instruments.
international bond issue denominated in GHS (Ghanaian Cedi). The issue is for an amount of GHS 20,000,000 (EUR 15m approximately) and carries an annual coupon of 10.75%. The bond is synthetic, with settlements and payments in Euros, as determined by the Calculation Agent based on the EUR/GHS exchange rate. The bond has an issue price of 100% and matures 26 October 2009. The transaction was lead managed by Barclays Capital & Barclays Bank of Ghana. The bond follows recent initiatives by EIB in African currencies in the international capital markets - in Botswana pula, Egyptian pounds
has been used on this scale in the bond market. This Directive sets out an efficient mechanism for the passporting of prospectuses in the member states of the European Union: Articles 17 and 18 provide... Exchange ( www.bourse.lu ). The issue sets a new standard for the European bond market. Led by Merrill Lynch International as Global Co-ordinator, the syndicate comprises 12 Co-Lead Managers, one from... will therefore be offered a European bond with uniform features. The bond addresses demand for protection against inflation via a structure that provides investors with a return, over an extended period
launched the international market's first ever bond issue denominated in MUR (Mauritian rupee). This extension of Euromarket bond issuance in African currencies follows EIB's innovative issuance in a range of African currencies. The bond matures 4 April 2010 and carries an issue size of MUR 1,000,000,000 (approx. EUR 23 million), representing a benchmark size for this market. The bond has an issue... Bank of Mauritius for on-lending to SMEs. Comments from EIB and the Lead Managers on the Bond Issue: EIB's Richard Teichmeister, Head of Funding for Europe (exc. EURO) and Africa, said: This transaction
The European Investment Bank (EIB) priced today a successful 5-year US$ global bond. The new US$ 3 billion benchmark with a maturity of 16 June 2008, is the EIB's third US$ denominated Global bond in 2003 following US$ 3 billion 3-year and US$ 1 billion 3 non-call 2 bonds. Bookrunners and Lead managers are Credit Suisse First Boston, Goldman Sachs, and Salomon Smith Barney, and Co-managers... and liquid investments from our global investor base. We have been looking for an opportunity to provide markets with a new 5-year benchmark after our bond issue a year ago, and we are pleased to have
The European Investment Bank (EIB), the Bank promoting European objectives - owned by EU Member States, plans to launch its first bond issue in Romanian Leu (RON) in the Romanian domestic market. The bond will be a rarity for the domestic market in offering a benchmark-sized issue from a Triple-A rated issuer. The bond is also expected to offer innovation in terms of maturity. The domestic' format of the bond means it would be listed in Romania and issued under local law and clearing systems, enhancing accessibility for domestic investors. The planned issue in RON is intended to offer
On its fourth appearance in the US$ Global market in 2003, the European Investment Bank (EIB) today extends both its successful track record and Global yield curve with a new 10-year bond via Lead... the well-developed 3 and 5-year sectors, the demand and activity has once again reached levels where the traditional US$ 1 billion Global bond can be executed successfully and enjoy global distribution... of Finance at the EIB. Goldman Sachs' Michael Sherwood, Head of European/Asian Fixed Income commented, The first and only other 10-year Global bond by EIB was in 1996, making today's offering a rare
The European Investment Bank, the European Union's lending institution, launched a USD 3 billion (1) 5-year global benchmark issue, its third and largest global bond this year. This issue reflects EIB's strategy to raise the liquidity and benchmark status of its dollar bonds and thereby increase distribution in the United States. The EIB's benchmark curve has now been increased to almost USD 23 billion. Priced at a re-offer spread of 58.5 bps over the US Treasury, the issue achieved broad geographic distribution from customers in the US, Asia and Europe. HSBC, Morgan Stanley, and Salomon
The European Investment Bank (EIB), the Bank promoting European objectives, owned by the EU Member States and rated Aaa/AAA/AAA (Moody’s/Standard and Poor’s/Fitch), currently marketing a new EUR bond that combines innovative features focused on climate protection has decided to extend the public offering period by one week. The public offering now runs until 29.06.2007, in order to satisfy ongoing retail demand. Consequently, the pricing and settlement dates for the transaction are also changed, with the new dates now set to be 02.07.2007 and 05.07.2007 respectively. Lead managers
The European Investment Bank (EIB') today priced a new Swedish krona benchmark bond. This issue extends EIB's liquid presence in the SEK market into a longer maturity bracket, following the issue last year of an SEK bond maturing in 2009 (total outstanding: SEK 4.05bn) which constitutes the largest outstanding SEK issue in the Eurobond market. For the new 10-year transaction, Nordea acted as sole... issues at the long end of the SEK bond market. The maturity of the new issue matches the Swedish Government Bond # 1041, due 05 May 2014, and has been priced at 21 bp over this reference
The European Investment Bank (EIB), the European Union's long term lending institution, is planning to launch the first Sterling e-bond and proposes to use a newly established EIB Sterling Dealer... Sterling e-bond The EIB is to use the new Dealer Group methodology for the first time with the first Sterling-denominated e-bond, to be lead managed by Barclays Capital and Warburg Dillon Read... and its Dealers in building up a significant presence in the Sterling bond market." "Our announcement of an EIB Sterling e-bond transaction, the first in the Sterling market and the first by a European
First International Namibian Dollar bond issue, first non-domestic issuer
Synthetic format with payments in EUR
Extends African Euromarket
7.90% Coupon, 5 year maturity
Paves way... ), today launched the first international Namibian dollar bond. The issue is for an amount of NAD 250,000,000 (EUR 33m approximately) and carries an annual coupon of 7.90%. The bond is synthetic, with settlements and payments in Euros, as determined by the Calculation Agent based on the EUR/NAD exchange rate. The bond has an issue price of 100% and matures 30th March 2011. The transaction was lead
First bond to offer: Proceeds earmarked for future projects in the fields of renewable energy and energy efficiency, thereby supporting climate protection
Return linked to the performance... markets of the EU, resulting in the largest- ever syndicated index-linked bond
The European Investment Bank (EIB), the Bank promoting European objectives, owned by the EU Member States and rated Aaa/AAA/AAA (Moody’s/Standard and Poor’s/Fitch), plans to issue a new EUR bond that combines innovative features focused on climate protection and offers a unique investment opportunity. This issue, EIB
of almost EUR 1bn equivalent via Climate Awareness Bond issues internationally. Financing sustainable, competitive and secure energy is one of the core objectives of the EIB. The Bank has set a target... efficiency. The proceeds of this new EIB bond issue will be dedicated to future lending projects in the fields of renewable energy and energy efficiency. These include, but are not limited to: renewable energy... in tackling climate change. With this bond the European Investment Bank is inviting Japanese investors to join EIB in that endeavour. The new bonds to be issued in Japan build on the positive results
First International Zambian kwacha bond issue, first by foreign issuer
Synthetic format with payments in USD
Extends EIB’s track record of contributing to the development of debt markets... ; Poors/Fitch), today launched its first international bond issue denominated in ZMK (Zambian Kwacha). It is the first ZMK issue by a foreign issuer and the first in the international market. It thereby helps draw the attention of international investors to the ZMK market. The issue is for an amount of ZMK 125 billion (EUR 23m approximately) and carries an annual coupon of 12.25%. The bond is synthetic
Maturity is longest for an SIT bond in the international markets
2014 issue amounts to SIT 4 billion with a coupon of 4.75%
The European Investment Bank (EIB), the EU's long term financing institution, rated Aaa/AAA/AAA (Moody's/Standard & Poor's/Fitch), today launched its first ever issue in SIT. This bond issue matures 10.06.2014, making it the longest dated SIT issue in the international markets . With an amount of SIT 4 bn (EUR 17m) and a coupon of 4.75%, this issue also represents the first ever bond issue by a AAA-rated or supranational issuer to be launched in SIT. The issue
European Investment Bank’s first bond issue in Romanian Leu, which was open for subscription by the public from 26 April to 4 May, settles today. The bond, originally announced for a minimum benchmark size of RON 150 million has a final size of RON 300 million and, at seven years, is noteworthy for being the longest dated traded issue in the market. The AAA-rated issue carries an annual coupon... , said: “We are delighted that the EIB Romanian Leu bond issue was so well received by such a diverse investor group, in spite of the temporary lack of liquidity during the last couple of weeks
The European Investment Bank (“EIB”), the long-term financing institution of the EU, has syndicated a EUR 750 million Eurocooperation bond with maturity 15 March 2018. The bond pays a coupon of 2.625% and has a reoffer price of 99.282%. The re-offer-spread is 12 bps over mid-swap and offers a yield enhancement of 53 bps over Bund 01/2018. The bond has a EUR 1,000 denomination and is listed... of a gradual and strategic approach.
After a first “Popular bond” distributed exclusively by Italian popular banks in 2008, a broader primary market partnership with European cooperative banks
The European Investment Bank (“EIB”), the long-term financing institution of the EU, has syndicated a EUR 1 billion Eurocooperation (“ECoop”) Bond with maturity 16 September 2019. The bond pays a coupon of 2.5% and has a reoffer price of 99.388 %. The re-offer-spread is 9 bps over mid-swap and offers a yield enhancement of 35.4 bps over Bund 07/2019. The bond has a EUR 1,000 denomination and is listed in Luxembourg. The issue conforms to the eligibility requirements for monetary operations with the Eurosystem.
The transaction is the fourth fixed rate ECoop Bond and deepens the extensive
The European Investment Bank ("EIB"), the long-term financing institution of the EU has syndicated a EUR 1.5 bn Eurocooperation bond with maturity 15 March 2016. The bond pays a coupon of 2.625% and has a reoffer price of 99.48%. The re-offer-spread is 5 bps over mid-swap and offers a yield enhancement of 28.2 bps over Bund 01/2016. The bond has a EUR 1,000 denomination and is listed... between the two largest banking sectors: co-operative banks and savings banks. It is the result of a gradual and strategic approach of the EIB and its partners After a first "Popular bond" distributed
Latest sterling issue brings EIB GBP bond outstandings to over GBP 50bn
Largest share in non-gilt index: 10%
Over 30 years’ presence in GBP market
Today EIB’s sterling bond outstandings reached the GBP 50 billion mark, a record for the EIB and the non-gilt market. This follows today’s GBP 100 million tap of the 4.25% 7 December 2010 issue. The Bank has for some time been the leading... the outstanding amount of the December 2010 issue to GBP 4 billion, making it the largest outstanding non-gilt sterling bond. A very brief history of EIB in the sterling market The Bank has been an active
Recent developments in Euro-area sovereign bond and CDS markets
Part 1: Euro-bonds and systemic risk This note analyses recent developments in Euro-area sovereign bond and CDS markets, and discusses related topics such as systemic risk and the common Euro-bond proposal. Recent years have witnessed a dramatic increase in bond spreads. One of the objectives of this note is to shed light on the main drivers of these spreads.
Benchmark / reference bonds are characterised by large / liquid issuance sizes, benchmark maturities, regularity of issuance and a quest for transparent pricing. The bulk of EIB's benchmark bond issues are in euro (EUR), sterling (GBP) and US dollars (USD), which historically have offered a yield pick-up in excess of the sovereign benchmark. EUR - benchmark programme
GBP - benchmark programme
USD - benchmark programme
Benchmarks are also issued in various other currencies . Targeted bond issuance addresses specific investor needs or niche opportunities. It comprises both plain vanilla
On the 4th of June, the European Investment Bank priced its third new Euro Area Reference Note (EARN) of 2013. The issue carries an annual coupon of 2.0% and has a final maturity date of 14 th April 2023. The bond was priced at a spread of mid-swaps +25bps, in line with the initial guidance and equates to a spread of +49.2 bps over the 1.5% Bund due February 2023. For further information, please see the press release .
(SR) investors. In 2007, the Bank widened its SRI appeal as the first SSA borrower to issue an environmental-themed bond - the Climate Awareness Bond (CAB). With the first CAB issue, the EIB pioneered... in July 2013, is currently the largest green bond outstanding in any currency at EUR 2bn, responding to investor demand for a liquid product in the SRI space. In 2014, issuance resumed with EIB’s first CAB... of the EU. For more details on the projects supported by Climate Awareness Bonds, please consult the EIB Climate Awareness Bond newsletter (link below). Publications récentes sur les obligations
Today, the European Investment Bank (‘EIB’) priced a new Global benchmark issue, a USD 5bn bond due 15 June 2018. The transaction represents EIB’s third Global of the year and the second in the 5-year tenor, following the January issue. The bond pays a semi-annual coupon of 1% and has an issue price of 99.40% to give a spread of 43.05 basis points over the 0.750% UST due 31 March 2018... in line with the original guidance at mid-swaps plus 20 basis points, as is usual practice. Summary Terms and Conditions for the new bond issue:
Issue Amount USD 5 billion
Pricing Date 9 April 2013
The European Investment Bank today priced its fourth new EUR benchmark Euro Area Reference Note (EARN) of 2009 following issues in the 3, 5 and 10-year tenors earlier this year. The issue carries an annual coupon of 3.5% and has a final maturity date of 15 April 2016, thereby complementing EIB's EARNs curve. The bond was priced at a spread of mid-swaps plus 55bp - the tighter end of guidance (+55/60bp) - equivalent to 82.9 bps over the DBR 3.5% due January 2016. The total order book amounted to over EUR 6 billion and consisted of around 300 orders. Further details can be found in the press
On the 5th January 2011, the EIB launched its first benchmark transaction of 2012 with a new 3-year Sterling benchmark maturing in January 2015.
The new bond provides a current coupon 3-year presence and fills a gap in the GBP benchmark curve between the September 2014 and July 2015 issues. The issue was priced at a spread of 160bps over the UKT 4.75% due September 2015. For further information, please see the Press release