EIB in the news

  • EIB makes pioneering Sonia play

    A sterling floater from the European Investment Bank would not normally set tongues wagging across capital markets but the supranational’s upcoming deal is an exceptional case. The bond is a test case for what is expected by many to become the new market standard for the format, writes Lewis McLellan.

    • 21 Jun 2018
  • EIB out with IPTs on keenly watched Sonia trade

    The European Investment Bank has released initial price thoughts for a sterling benchmark floater referencing Sonia — a trade that dominated many conversations at this week's Euromoney Global Borrowers conference in London. The deal will be priced on Friday.

    • 21 Jun 2018
  • Volatility abates in euros but SSAs prefer dollars

    The euro market is calmer than it has been for months this week, but despite the favourable backdrop, issuers appear to be steering clear.

    • 20 Jun 2018
  • Irish Continental docks another debt facility

    Shipping company Irish Continental Group has signed an €80m financing facility with the European Investment Bank, with the financing coming soon after the company announced a spate of committed and uncommitted loans totaling €608m-equivalent. The ship it finances will be the largest cruise ferry in the world.

    • 19 Jun 2018
  • EIB to lead the way into post-Libor world

    The European Investment Bank has hit screens for the first sterling floating rate benchmark designed for a post-Libor world.

    • 18 Jun 2018
  • SSA secondary pricing update: featuring EIB's 2032 CAB

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

    • 01 Jun 2018
  • EIB EUR500m 1.125% Nov 32 Climate Awareness Bond

    • 24 May 2018
  • Italy drives rates rollercoaster as SSA knuckles whiten

    The political manoeuvrings in Italy’s path to being governed — as well as poor eurozone economic data — played havoc with rates this week, leading to SSA deals either paying higher new issue concessions, or falling short of subscription. More volatility could come, after the country’s president approved the likely coalition partners’ choice of prime minister but held back from appointing a eurosceptic economist to take charge of the country’s economy. Craig McGlashan reports.

    • 24 May 2018
  • EU told to go slow on tricky green finance Taxonomy

    The European Commission adopted its first Sustainable Finance package on Thursday — draft laws that will begin to implement its strategy. The proposals have been changed at the request of an internal EC committee, to make them more workable, especially when it comes to the planned Taxonomy of green and sustainable activities.

    • 24 May 2018
  • Thin demand for punchy CAB, but Unédic to follow at 15

    The European Investment Bank has printed a new Climate Awareness Bond — its sole euro green bond for 2018 — opting for an aggressive price and falling short of full subscription. A French agency will follow the supranational’s lead, mandating for a deal with the same tenor.

    • 22 May 2018
  • Funding scorecard: supranationals

    This week's funding scorecard looks at the progress various supranationals have made in their funding programmes.

    • 18 May 2018
  • Funding Circle portfolio priced tight in second SBOLT deal

    The second European securitization backed by Funding Circle loans was priced on Thursday, with spreads showing the dramatic drop in financing costs for European marketplace loan ABS since the market emerged in 2016.

    • 03 May 2018
  • Supras having busiest ever spell in Romanian lei

    Supranationals are making the most of demand in Romanian lei, picking up short dated funding in the currency.

    • 03 May 2018
  • Investors resistant to supra green price ambitions

    Some supranationals want to see their efforts to print green bonds rewarded with tighter pricing, hoping to set a precedent that will spread through the market. But some worry that setting the pricing bar higher for green bonds than vanilla as a matter of course could deter investors. Lewis McLellan reports.

    • 26 Apr 2018
  • EIB USD1.5bn 2.875% Jun 25 Climate Awareness Bond

    • 19 Apr 2018
  • HK green credentials boosted by supra deals

    A pair of supranationals helped bolster Hong Kong’s green bond ambitions with some SRI deals this week.

    • 19 Apr 2018
  • EIB adds to strong showing for Mexican peso MTNs

    The European Investment Bank (EIB) tapped a five year Mexican peso line on Monday, becoming the latest supranational to access the popular niche currency, in what is by far the strongest start to the year on record for supranational issuance in the currency.

    • 19 Apr 2018
  • SRI flurry as NWB preps deal and EIB comes in sevens

    After several weeks of focusing on conventional bonds in core currencies, SSAs popped back into the socially responsible investments (SRI) market this week. Nederlandse Waterschapsbank (NWB) is laying the ground for an affordable housing bond in euros, while the European Investment Bank found a solid reception for a Climate Awareness Bond that came in rare seven year dollar form.

    • 18 Apr 2018
  • EIB goes for rare dollar sevens with CAB trade

    The European Investment Bank is set to plug a gap in its dollar Climate Awareness Bond curve after mandating banks on Tuesday for a June 2025 trade, opting for a rare seven year dollar bond.

    • 17 Apr 2018
  • EIB plans new bond range to promote finance of Sustainable Development Goals

    The European Investment Bank is preparing a new product: Sustainability Bonds, which will complement its Climate Awareness Bonds.

    • 12 Apr 2018
  • EIB GBP500m 1.375% Mar 25

    • 05 Apr 2018


EIB data breakdown

Sources: EIB, Dealogic

Credit rating Aaa/AAA/AAA
Basel II risk weighting
0%
Headquarters
98-100, 
Boulevard Konrad Adenauer,
L-2950,
Luxembourg


EIB

Dealer League Table EIB

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,667.61 33 11.77%
2 Goldman Sachs 3,651.07 4 9.21%
3 HSBC 3,550.35 12 8.96%
4 Bank of America Merrill Lynch 3,045.19 9 7.68%
5 Citi 2,563.08 14 6.47%
Key officials
  • Eila Kreivi, director, head of capital markets department
  • Sandeep Dhawan, head of funding, Americas, Asia, Pacific
  • Carlos Ferreira da Silva, head of funding, euros
  • Richard Teichmeister, head of funding, Europe (ex. euros), Africa
Guarantee EU sovereign shareholders are legally bound to pay callable capital of €221.585bn on EIB demand, if required to meet financial obligations.
Ownership
structure
The shareholders of the European Investment Bank are the 28 Member States of the European Union. Each Member State’s share in the bank’s capital is based on its economic weight within the European Union (expressed in GDP) at the time of its accession.

France, Germany, Italy, UK: 16.11% each
Spain:  9.67%
Belgium, Netherlands:  4.47% each
Others:  16.95%
Private placement
policy
  • Minimum size of $10m eqv.
  • Can print interest rate linked and equity index linked structures, but not single stock linked
  • Minimum tenor is callable structures with minimum non-call period of one year
  • Can print in a wide range of currencies

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 12,417.34 15 11.10%
2 JPMorgan 10,784.81 16 9.64%
3 Citi 9,836.54 17 8.80%
4 NatWest Markets 8,487.83 7 7.59%
5 HSBC 7,788.95 12 6.97%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 28,901.35 74 12.48%
2 HSBC 22,334.06 48 9.64%
3 JPMorgan 19,145.59 51 8.27%
4 Deutsche Bank 17,915.81 27 7.74%
5 Bank of America Merrill Lynch 16,436.98 51 7.10%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 24,223.40 52 8.61%
2 Barclays 21,482.86 36 7.64%
3 UniCredit 19,921.86 49 7.08%
4 Credit Agricole CIB 18,862.23 49 6.71%
5 HSBC 18,112.51 64 6.44%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 51,595.93 277 7.25%
2 Citi 50,929.52 181 7.15%
3 HSBC 46,450.64 170 6.52%
4 Barclays 40,928.81 133 5.75%
5 Deutsche Bank 37,881.53 100 5.32%