The $3bn long three year global — the only deal available for scoring in the week commencing September 3 — averaged 8.45 across the five BondMarker categories. That put it in eighth position among dollar deals this year, just behind Finnvera’s $1bn five year (8.55), Asian Development Bank’s $1.5bn 10 year (8.48) and Development Bank of Japan’s $1bn five year (8.46).
Leads Barclays, Citi and RBC Capital Markets priced EIB’s benchmark at 1bp through mid-swaps and despite the sub-Libor spread, bank treasuries took 26% of the bonds.
BondMarker voters applauded that achievement. The deal’s highest category score was for pricing, at 8.5, with quality of the investor distribution second at 8.5.
EIB followed up the dollar global with a €3bn July 2024 Earn last week. It is available to score on BondMarker until this Thursday at 6pm, alongside Bank Nederlandse Gemeenten’s $2.5bn five year, African Development Bank’s $2bn five year, Inter-American Development Bank’s $2.8bn 10 year, KfW’s $1.5bn tap of its October 2020s and Spain’s €4bn 15 year linker.
