By Marisa Wong
Los Angeles, Jan. 18 – European Bank for Reconstruction and Development priced Ps. 1.75 billion of callable zero-coupon notes due Jan. 22, 2036, according to a term sheet filed with the Securities and Exchange Commission.
The notes priced at 27.083 to yield 11˝%.
The notes are callable annually, beginning on Jan. 22, 2025 at 30.198. The redemption price steps up each optional redemption date to a final call price of 89.686 on Jan. 22, 2035.
Goldman Sachs International is the dealer.
The SEC-registered notes will be issued under the London-based bank’s €45 billion global medium-term note program.
Net proceeds of the notes will be included in the ordinary capital resources of the issuer and used in its ordinary operations.
| Issuer: | European Bank for Reconstruction and Development
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| Amount: | Ps. 1.75 billion
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| Issue: | Notes
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| Maturity: | Jan. 22, 2036
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| Dealer: | Goldman Sachs International
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| Coupon: | 0%
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| Price: | 27.083
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| Accrual yield: | 11˝%
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| Call option: | Annually beginning on Jan. 22, 2025 at 30.198; redemption price steps up each optional redemption date to a final call price of 89.686 on Jan. 22, 2035
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| Announcement date: | Jan. 18
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| Issue date: | Jan. 22
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| Distribution: | SEC registered
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| ISIN: | XS2750356961
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