First 10 year Earn since ‘09 marred by Spanish downgrade
The European Investment Bank this week issued its first 10-year Euro Area Reference Note (Earn) since February 2009, a Eu3bn transaction which was triggered by lead order demand from Asia. The deal had to contend with a bout of volatility shortly after books were opened on Thursday when Moody’s downgraded Spain.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts
