CEB issues EUR 1 billion 7-year Social Inclusion Bond Benchmark

5 avril 2023

PARIS - The Council of Europe Development Bank (CEB) has issued a €1 billion SIB to continue to support social investments across Europe. This new issuance was met with strong support from socially responsible investors and completes the CEB’s EUR SIB curve as the 7th, 7-year EUR-denominated SIB since CEB started to issue its pioneering SIBs in 2017.

As the only multilateral development bank with an exclusively social mandate, the CEB has always been focused on the social impact of its lending activity. In line with the CEB’s SIB Framework, the proceeds of this new bond will be used for eligible loans in one or several of the following categories::

  • Social housing for low-income persons;
  • Education and vocational training;
  • Health and social care;
  • Support to MSMEs for the creation and preservation of jobs.

Socially responsible investors were well represented in the orderbook, providing further investor diversification to the Bank. Around 60% of the issue was allocated to SRI investors.

As with previous issuances under the Social Inclusion Bond framework, the Bank is committed to transparent reporting on the allocation and impact of eligible social loans that are financed by its SIB. In March 2023, the CEB published its latest SIB Report, this time under the Bank’s new portfolio approach for the management of proceeds following the update of the SIB Framework last year.

Importantly, the CEB is also preparing to welcome Ukraine as a new member in the coming months. This will enable the Bank to play its full part in the international effort to safeguard the future of the country and its people, particularly by providing support in the housing and healthcare, sectors where the Bank has extensive expertise.

“The proceeds of this new SIB will allow the Bank to continue financing our member states’ much-needed investment in social sectors as per the Bank’s mandate,” said CEB Governor Carlo Monticelli.”We are particularly pleased that in line with our strategic, continuous commitment to the social bond market we have now successfully completed our SIB curve”

Investor distribution  

By geography

France: 23%
Germany: 12%
Benelux: 11%
Nordics: 9%
Italy/Portugal/Spain: 9%
United Kingdom: 8%
Middle East/Africa: 8%
Asia: 7%
Swiss/Austria: 7%
Americas: 4%
Other Europe: 2%

By investor type

Banks: 45%
Asset Managers: 29%
Central Banks/OI: 15%
Insurance/Pension Funds: 8%
Others: 3%

For full technical details of the transaction, please click here

Fondée en 1956, la CEB (Banque de Développement du Conseil de l'Europe) compte 42 États membres, dont 22 pays d'Europe centrale, orientale et du Sud-Est formant les pays cibles de la Banque. En tant qu'instrument majeur de la politique de solidarité en Europe, la Banque finance des projets sociaux en mettant à leur disposition des ressources levées dans des conditions reflétant la qualité de sa notation (Aaa auprès de Moody's, perspective stable, AAA auprès de Standard & Poor's, perspective stable, AA+ auprès de Fitch Ratings, perspective positive et AAA* auprès de Scope Ratings, perspective stable). Elle accorde des prêts à ses États membres, à des établissements financiers et à des autorités locales pour le financement de projets dans le secteur social, conformément à son Statut.

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