Investors flock to safe haven of BofE and EIB

Never was flight to quality more apposite than in today’s market, as the Bank of England and European Investment Bank sold dollar deals at the tight end of guidance in the eye of the storm. BofE’s $2bn three year drew $2.9bn of orders and was priced at mid-swaps less 30bp. EIB’s $3bn five year global, also well oversubscribed with a book of $4.2bn, came at mid-swaps less 25bp. Read EuroWeek on Friday for the inside story on both transactions.