EIB targets ‘unifying template’ for all post-Libor FRNs

European Investment Bank EIB sign from their media gallery 230x150.jpg
By Burhan Khadbai
11 Jul 2019

The European Investment Bank (EIB) has been at the forefront of developing the methodology for issuing floating rate notes (FRNs) linked to Sonia and Sofr. As it prepares for issuance in the new risk-free rates in euros, Canadian and Australian dollars, the supranational said it wants to use the same structure for all.

“We are fairly advanced with Ester [euro short term rate],” a funding official at the EIB told GlobalCapital. “We’ve done two test trades. But the question is whether there is demand for floating rate notes in euros when rates are so low.”

The European Central Bank (ECB) will ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.