Published: July 15, 2013
EU bank places record-sized issuance in euro market.
The European Investment Bank (EIB) has issued a €650mn (US$847mn) climate awareness bond, the largest such bond ever placed in the euro-denominated market. The proceeds will be used to back environmentally friendly projects.
The paper matures in 2019 and carries a coupon of 1.375%. Bank of America Merrill Lynch, Crédit Agricole CIB, DZ Bank and UniCredit were joint bookrunners on the deal.
Investors from Benelux, Germany and France accounted for some 80% of the orderbook’s final allocation, while asset managers, insurance companies and pension funds provided more than 50% of distribution by investor type.
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