EIB hails CAB-iversary in style with 30yr

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By Craig McGlashan
29 Jun 2017

The European Investment Bank this week celebrated the 10th anniversary of its printing of the first ever green bond with the longest dated deal in the format from a supranational or agency — and at double its initial size target. The trade is also a further indication that green bonds can trade tighter in secondary than conventional paper.

Leads Bank of America Merrill Lynch, BNP Paribas, Commerzbank, UniCredit priced a €1bn November 2047 Climate Awareness Bond for EIB at 5bp over mid-swaps, at the tight end of guidance of 6bp area (see Bond Comments section on page 40 for full details).

The ...

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