European Investment Bank Re-enters USD SSA Markets with $5 Billion 5-Year Global Benchmark Bond

European Investment Bank Re-enters USD SSA Markets with $5 Billion 5-Year Global Benchmark Bond

(IN BRIEF) The European Investment Bank (EIB) has successfully re-entered the USD bond market with a new $5 billion 5-year Global benchmark bond, offering a 3.750% semi-annual coupon. This issuance, which brings EIB’s total USD issuance for the year to $28 billion, is part of its effort to raise €65 billion in 2024, with over €51 billion already secured. The bond, managed by JPMorgan, RBC Capital Markets, and TD Securities, highlights EIB’s strong market position and commitment to funding projects across Europe.

(PRESS RELEASE) LUXEMBOURG, 21-Aug-2024 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, has successfully re-opened the USD sovereign, supranational, and agency (SSA) bond markets following the summer break with a new $5 billion 5-year Global benchmark bond. This marks EIB’s sixth USD fixed-rate benchmark issuance in 2024 and its third in the 5-year tenor.

The bond, priced on August 20, 2024, offers a semi-annual coupon rate of 3.750% and was issued at a price of 99.756%, yielding 3.803% annually. This pricing reflects a spread of +9.1 basis points over the 4.000% U.S. Treasury note due July 31, 2029.

With this issuance, EIB has raised over €51 billion, nearing 80% of its total 2024 borrowing authorization of €65 billion. The bank’s total USD issuance for the year now stands at $28 billion, covering various maturities including 3-year, 5-year, 7-year, and 10-year benchmarks.

The bond will settle on August 27, 2024, and is listed on the Luxembourg Stock Exchange. The transaction was managed by joint lead managers JPMorgan, RBC Capital Markets, and TD Securities.

This issuance reaffirms EIB’s strong position in the global capital markets and highlights its continued role in providing essential funding for projects across Europe and beyond.

Not for distribution in or into the US – This press release does not constitute an offer for sale of the securities described. The offering and sale of the securities described in this document are subject to restrictions under the laws of several countries. Securities may not be offered or sold except in compliance with all such laws.

Media contact:

Investor Relations
investor.relations@eib.org
+352 43 79 – 53000

SOURCE: European Investment Bank