By Rebecca Melvin
New York, Oct. 18 – European Bank for Reconstruction and Development has issued €500 million of 0% five-year green bonds at a reoffered 102.306 to yield minus 0.455%, or mid-swaps minus 10 basis points, according to a market source.
The Securities and Exchange Commission exempt global is the EBRD’s inaugural green transition bond and was marketed by joint bookrunners Barclays, BofA Securities, Citigroup and HSBC.
The proceeds are earmarked to support a specific portfolio of environmentally and socially sustainable projects, comprising investments in energy efficiency; resource efficiency, and sustainable infrastructure.
A listing on the London Stock Exchange is expected.
EBRD is a lender to banks, businesses and industries based in London.
| Issuer: | European Bank for Reconstruction and Development
|
| Amount: | €500 million
|
| Description: | Green transition bonds
|
| Maturity: | Oct. 17, 2024
|
| Bookrunners: | Barclays, BofA Securities, Citigroup and HSBC
|
| Coupon: | 0%
|
| Price: | 102.306
|
| Yield: | Minus 0.455%
|
| Spread: | Mid-swaps minus 10 bps
|
| Settlement date: | Oct. 17
|
| Distribution: | Global SEC exempt
|
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