EIB launches US$ 2 billion global issue

The European Investment Bank launched a US$ 2 billion five-year global benchmark issue today. Launched at a spread of 75 bps re-offered over the US Treasury, the issue has been taken up in Europe, Asia, the US, the Middle East and Africa.

The joint book-runners are UBS Warburg and Morgan Stanley. Co-lead managers are: ABN Amro Bank, BNP Paribas, Credit Suisse First Boston, HSBC Markets, JP Morgan Chase, Merrill Lynch, and Nomura.

The transaction has been in preparation since December of last year. Aside for a US$ 1 billion transaction in 1996, this is the EIB's first benchmark-sized US$ global issue.

EIB Director General for Finance René Karsenti said: "We are delighted with the speed with which this issue has been taken up. Demand for high grade US$ paper has remained extremely strong across the globe".