EIB in the news

  • GC Bondmarker: featuring France's return to capital markets.

    The relief rally sparked by Emmanuel Macron's victory in the French presidential election is yet to fully evaporate and the Europe's public sector borrowers have been taking full advantage of it. Read on to see how GC BondMarker voters rated France's return to capital markets as well as the rest of the benchmarks.

    • 25 May 2017
  • EIB PLN1.5bn 3% May 24

    • 25 May 2017
  • EIB draws demand in middle of Polish curve

    The European Investment Bank found seven year funds in its latest move to build a benchmark curve in Polish zloty.

    • 25 May 2017
  • EIB draws demand in middle of Polish curve

    The European Investment Bank found seven year funds in its latest move to build a benchmark curve in Polish zloty.

    • 24 May 2017
  • EIB returns to Polish zloty

    The European Investment Bank is looking for seven year funds in Polish zloty curve in its latest move to build a benchmark curve in the currency.

    • 22 May 2017
  • Muddy dollar picture as investors switch to ‘impeachment trade’

    A swirl of allegations surrounding US president Donald Trump this week added a rally in US Treasuries to already tightening dollar swap spread, creating an uncertain environment for public sector issuers considering dollar deals next week.

    • 18 May 2017
  • GC BondMarker: featuring the post election deal flood

    The week commencing May 8 brought a wave of public sector borrowing. The victory of Emmanuel Macron in the French presidential election caused a wave of relief and signalled a blazing green light for issuance. See how the deals fared on GC BondMarker.

    • 18 May 2017
  • UK corporates seek replacements for EIB funding

    Some of the UK’s major borrowers, especially in the utility sector, are preparing for a future without European Investment Bank funding, as the supranational’s lending in the UK is set to be caught up in fraught Brexit negotiations.

    • 18 May 2017
  • Issuers flurry after moment's silence in Kanga market

    The Kangaroo market witnessed a flurry of deals this week as issuers dipped into an investor base starved of paper. The rush of deals follows a period of inactivity during which pricing –– compared with other niche currencies –– had been unfavourable, forcing issuers to wait until costs worked for them again.

    • 18 May 2017
  • EIB brings dollar 10s back in sight with debut dual trancher

    The European Investment Bank on Wednesday brought the first 10 year dollar benchmark from a triple-A SSA since the first week of the year, and despite tricky conditions found sufficient demand to increase the trade from its initial $1bn target. Adding a touch of novelty, the deal was part of what Dealogic data shows was EIB’s first ever dual tranche dollar benchmark.

    • 17 May 2017
  • EIB offers conventional/CAB dollar mix amid swap spread wobbles

    The European Investment Bank is set to take a novel approach to green bond issuance, after mandating for a dual tranche dollar deal — of which only one leg is a Climate Awareness Bond. Like Kommuninvest, which printed a four year dollar green bond on Tuesday, the supranational may have to contend with volatile dollar swap spreads.

    • 16 May 2017
  • EIB EUR3bn 1.125% Apr 33

    • 11 May 2017
  • SSAs eye long shots in hot euro market

    Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.

    • 11 May 2017
  • Bpifrance leads French comeback charge as euro market blooms

    Bpifrance Financement broke its size record on Tuesday, nipping back into capital markets ahead of several of its compatriots, according to a funding official at the issuer. The European Investment Bank (EIB) and NRW.Bank also made the most of the stable conditions, printing their own benchmarks.

    • 09 May 2017
  • SSA trio line up across euro curve

    Three public sector borrowers hit screens on Monday, mandating in a euro market buoyed by the defeat of National Front candidate Marine Le Pen in the final round of the French presidential election on Sunday.

    • 08 May 2017
  • EIF backs Spanish SMEs as part of funding initiative

    The European Investment Fund has agreed to guarantee 50% of a portfolio of Spanish SME credit originated by nine banks.

    • 08 May 2017
  • Ontario returns to sterling, printing well-received floater

    Three public sector borrowers hit screens in sterling this week, including a rare floating rate note from the Province of Ontario, which made use of the currency for the first time in six years.

    • 04 May 2017
  • Ontario lands with sterling floater

    The Province of Ontario came to market for a rare sterling floater on Wednesday, sharing the UK currency market with a European Investment Bank deal.

    • 03 May 2017
  • Turkish currency holds niche appeal

    Two supranationals have printed Turkish lira denominated paper, taking advantage of a surge in demand for the currency.

    • 27 Apr 2017
  • Rentenbank offers another run at 'Roo

    Rentenbank added a A$100m ($75.6m) tap to its March 2027 Australian dollar bonds on Monday, a line it has tapped frequently since opening it in September.

    • 24 Apr 2017
  • Funding scorecard: supranationals

    This week's scorecard looks at the progress supranationals have made in their funding programmes this year.

    • 21 Apr 2017


EIB data breakdown

Sources: EIB, Dealogic

Credit rating Aaa/AAA/AAA
Basel II risk weighting
0%
Headquarters
98-100, 
Boulevard Konrad Adenauer,
L-2950,
Luxembourg


EIB data

Dealer League Table EIB

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2017
1 JPMorgan 5,591.33 48 12.43%
2 Goldman Sachs 4,942.63 10 10.99%
3 Barclays 4,659.50 10 10.36%
4 Citi 3,734.18 25 8.30%
5 Bank of America Merrill Lynch 3,502.03 15 7.78%
Key officials
  • Eila Kreivi, director, head of capital markets department
  • Sandeep Dhawan, head of funding, Americas, Asia, Pacific
  • Carlos Ferreira da Silva, head of funding, euros
  • Richard Teichmeister, head of funding, Europe (ex. euros), Africa
Guarantee EU sovereign shareholders are legally bound to pay callable capital of €221.585bn on EIB demand, if required to meet financial obligations.
Ownership
structure
The shareholders of the European Investment Bank are the 28 Member States of the European Union. Each Member State’s share in the bank’s capital is based on its economic weight within the European Union (expressed in GDP) at the time of its accession.

France, Germany, Italy, UK: 16.11% each
Spain:  9.67%
Belgium, Netherlands:  4.47% each
Others:  16.95%
Private placement
policy
  • Minimum size of $10m eqv.
  • Can print interest rate linked and equity index linked structures, but not single stock linked
  • Minimum tenor is callable structures with minimum non-call period of one year
  • Can print in a wide range of currencies

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 23 May 2017
1 Barclays 10,691.12 15 8.76%
2 BNP Paribas 10,516.31 14 8.62%
3 Citi 10,121.17 12 8.30%
4 HSBC 9,193.03 13 7.53%
5 JPMorgan 8,809.30 12 7.22%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 May 2017
1 JPMorgan 25,552.69 63 5.96%
2 Citi 24,119.11 60 5.63%
3 Deutsche Bank 17,545.97 37 4.09%
4 HSBC 16,628.60 40 3.88%
5 Barclays 13,251.34 33 3.09%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2017
1 JPMorgan 22,518.92 50 8.33%
2 BNP Paribas 21,790.92 38 8.06%
3 Barclays 21,543.33 50 7.97%
4 HSBC 19,548.33 56 7.23%
5 UniCredit 18,534.46 46 6.86%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Apr 2017
1 JPMorgan 39,067.52 180 8.50%
2 Citi 32,458.25 115 7.06%
3 Barclays 30,658.65 76 6.67%
4 Deutsche Bank 29,302.58 107 6.38%
5 HSBC 28,071.48 101 6.11%