EIB in the news

  • EIB EUR3bn 0.05% Oct 34

    • 19 Sep 2019
  • L-Bank brings first €STR FRN with EIB and other SSAs to follow

    While it is no surprise that a public sector borrower has brought the first floating rate note linked to the euro short term rate (€STR), it was a surprise that a small German agency would bring the inaugural transaction, especially as it is some weeks before the European Central Bank (ECB) is due to begin publishing the recommended new risk-free rate.

    • 19 Sep 2019
  • Euro SSA market reopens with a bang

    Investors stormed into the euro public sector bond market this week fired up from the announcement of a new comprehensive stimulus package by the European Central Bank last week.

    • 19 Sep 2019
  • L-Bank brings first €STR-linked FRN as EIB readies benchmark

    L-Bank issued the first ever floating rate note linked to €STR on Thursday, ahead of the European Central Bank’s publication of the recommended new euro risk-free rate on October 2. While it has been beaten in the race to do the first deal, the European Investment Bank has announced plans for what could be the first benchmark sized transaction in the format.

    • 19 Sep 2019
  • EIB and NIB fly in euros but Joint Laender struggles

    The European Investment Bank and Nordic Investment Bank kept the strong momentum going in the SSA euro bond market on Wednesday, capitalising on the European Central Bank’s announcement of fresh stimulus last week and a lack of issuance over the summer. However, Joint Laender's deal was only just oversubscribed, which the leads attributed to investors’ hesitance to buy a negative yielding 10 year bond from a less liquid name.

    • 18 Sep 2019
  • KfW and Bpifrance smash open euro SSA market

    Fresh from the announcement of a new stimulus package by the European Central Bank last week, investors stormed into the euro public sector bond market on Tuesday, led by KfW and Bpifrance. The latter printed €1.25bn, equaling its biggest ever single issue. The strong momentum is set to continue with a string of mandates, including two supranationals for Wednesday.

    • 17 Sep 2019
  • Supranational sterling flurry starts September

    A trio of supranationals harnessed a lack of sterling supply to reopen the market this week. The World Bank brought the first fixed rate supranational deal since August, while the Asian Development Bank and European Investment Bank both reopened Sonia-linked notes.

    • 12 Sep 2019
  • ADB and World Bank join syndicated sterling flurry

    The Asian Development Bank joined the syndicated sterling issuance run started by the European Investment Bank earlier this week, pricing a £300m tap of its March 2024 Sonia-linked note on Wednesday. The World Bank looks set to follow with a fixed rate tap on Thursday that bankers feel could give a good indication of the market’s appetite for the format amid volatility.

    • 11 Sep 2019
  • DMO and EIB taps reopen quiet sterling market

    The UK Debt Management (DMO) and European Investment Bank reopened a quiet sterling market on Tuesday with a pair of syndicated taps, which bankers feel will leave issuers and investors "confident" to follow.

    • 10 Sep 2019
  • EIB prices undersubscribed SRI tap through deposit rate

    The European Investment Bank failed to reach full subscription for a tap of its May 2026 Sustainable Awareness Bond that was priced with a yield of minus 0.542%.

    • 05 Sep 2019
  • SSA names turn screws on dollar spreads

    SSA issuers of dollar bonds were able to push harder on spread than they have in recent weeks on Wednesday, surprising syndicate bankers away from the deals.

    • 04 Sep 2019
  • Primary lights up in tricky dollar SSA market

    The dollar SSA market burst into life on Tuesday, but some bankers say that the tight spreads and low yields on offer mean there is little guarantee any of the trades will be easy.

    • 03 Sep 2019
  • Funding scorecard: supranationals

    This week’s funding scorecard looks at the progress supranationals have made in their funding programmes at the end of August.

    • 30 Aug 2019
  • EIB USD3bn 1.375% Sep 22

    • 29 Aug 2019
  • SSA dollar trades inch tighter to bump up against US Treasuries

    SSA dollar deals printed this week ground tighter in the secondary market on Thursday, despite the notes coming within a hair’s width of US sovereign debt.

    • 29 Aug 2019
  • SSA investors demand spread as curves invert further

    SSA issuers were out in the dollar market with $7bn of new bonds on Wednesday, though the biggest of the deals highlighted how price sensitive investors were in a world where some yield curves have inverted.

    • 28 Aug 2019
  • KBN debuts Swedish green bond as SSAs move into niche markets

    Kommunalbanken brought its green bond framework to the Swedish krona market for the first time last week to place its seventh green note, its first since August 2018. The move into the currency follows a wider trend of major SSA issuers funding in niche currencies as raising debt in core markets becomes harder, according to bankers.

    • 28 Aug 2019
  • SSA buyers scramble to catch up with autumn restart

    Some SSA investors have been taken by surprise by how quick the dollar market has reopened this week, with the clutch of trades on screens on Wednesday being regarded as important benchmarks for the coming weeks.

    • 28 Aug 2019
  • Dollar SSAs hit ground running in short week

    The dollar SSA market has started the short week on the front foot, with a trio of trades hitting screens on Tuesday.

    • 27 Aug 2019
  • SNCF brings century bond

    SNCF Réseau steamed ahead with a new century bond issue this week, its second and largest deal to date, amid declining rates that has seen more and more investors take a risk at the ultra-long end in return for yield pick-up.

    • 08 Aug 2019
  • Schleswig-Holstein braves rate noise

    The Federal State of Schleswig-Holstein has mandated for a 20 year euro trade, as eurozone rates continue to squeeze tighter.

    • 06 Aug 2019


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

 

See Funding scorecard: supranationals for EIB's funding progress this year.

 

EIB

Dealer League Table EIB

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 5,480.81 26 10.40%
2 JPMorgan 4,935.47 31 9.36%
3 Bank of America Merrill Lynch 4,569.83 16 8.67%
4 Barclays 3,842.39 6 7.29%
5 Citi 3,768.56 12 7.15%
Key officials
  • Eila Kreivi, director, head of capital markets department
  • Sandeep Dhawan, head of benchmark funding
  • Carlos Ferreira da Silva, head of public markets funding
  • Richard Teichmeister, head of new products and special transactions funding
  • Aldo Romani, head of sustainability funding
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 JPMorgan 17,683.39 29 10.65%
2 Citi 13,595.38 21 8.19%
3 Goldman Sachs 12,302.04 22 7.41%
4 HSBC 12,224.45 15 7.36%
5 BNP Paribas 11,306.61 19 6.81%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,540.14 76 11.44%
2 JPMorgan 29,467.48 78 11.03%
3 HSBC 18,945.39 48 7.09%
4 Barclays 17,883.71 42 6.70%
5 Bank of America Merrill Lynch 16,273.57 62 6.09%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,538.44 83 9.26%
2 BNP Paribas 25,289.20 63 6.59%
3 Credit Agricole CIB 25,128.79 67 6.55%
4 Goldman Sachs 24,003.84 53 6.26%
5 UniCredit 23,929.00 71 6.24%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 74,506.93 362 7.86%
2 Citi 58,306.28 185 6.15%
3 HSBC 55,518.86 225 5.85%
4 Barclays 49,814.97 174 5.25%
5 Bank of America Merrill Lynch 42,458.79 153 4.48%