EIB reboots €STR FRN market with curve extension

By Burhan Khadbai
21 Jan 2021

The Europe Investment Bank extended the euro short term rate (€STR) floating rate note curve on Wednesday with 2021’s first deal in the format.

Leads Crédit Agricole, Deutsche Bank, Standard Chartered Bank and UniCredit priced a new €1bn January 2028 €STR FRN for EIB with a spread of 1bp over €STR.

The deal was priced with a reoffer price of 114.418 and a chunky coupon of 200bp over €STR ...

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