EIB Plans Dollar Benchmark 7-Year Bond, Pricing at Swaps +0.42 Area
08/21/2012| 03:50am US/Eastern
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By Serena Ruffoni
The European Investment Bank is planning to issue a new dollar-denominated, benchmark-sized, seven-year bond, one of the banks handling the deal said Tuesday.
Initial price guidance is in the area of 42 basis points over midswaps.
JPMorgan and UBS are lead managers on the deal.
This will be the EIB's third time selling new debt since last Thursday, when it raised EUR500 million through a tap of its March 2020 bond. The issuer also raised 1 billion euros ($1.23 billion) Monday through a tap of its Sep. 2021-dated bond.
The EIB is rated triple-A by all three major rating agencies.
Write to Serena Ruffoni at serena.ruffoni@dowjones.com (Art Patnaude contributed to this report.)
Corrections & Amplifications
This article was corrected at 10:15 GMT to fix the currency. The correct currency is the U.S. dollar, not the euro.
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