The social development bank in Europe

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GBP300m New December 2021 Benchmark

1 August 2018

PARIS - Issues highlights

  • CEB marked a successful return to the Sterling market with an upsized £300m December 2021 Benchmark, their first outing in the currency since October last year.
  • The maturity was chosen in response to constructive demand dynamics at the front end of the curve and complements CEB’s outstanding GBP curve, filling a gap between their December 2019 and June 2022 lines.
  • The size and high quality of the demand from over 25 investors allowed CEB to upsize the transaction to £300m from a minimum £250m starting size. The deal enjoyed a high quality orderbook with strong UK real money and CB/OI participation.

GBP300m New December 2021 Benchmark

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Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AA+ with Standard & Poor's, outlook positive and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.

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