New EIB Global benchmark: USD 4.5bn 3-year

On Tuesday European Investment Bank (‘EIB’) priced a new USD 4.5bn 3-year Global benchmark issue. This is EIB’s seventh US Dollar Global of the year and it’s third in the 3-year tenor following the USD 4bn 3-year Global issued in February 2016 and USD 3bn 3-year Global issued in May 2016. The transaction was priced at mid-swaps plus 17 basis points, in line with initial guidance. The issue pays a semi-annual coupon of 1.250% and has an issue price of 99.908%, providing a spread of 31.2 basis …

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