La banque du développement social en Europe

Actualités

CEB issues a new 1.125% £600m Benchmark due March 2022

10 janvier 2019

· CEB’s largest Sterling issuance to date

· Final orderbook in excess of £650 million

PARIS - On the 10th January 2019, CEB successfully priced a new £600 million Mar 2022 Benchmark, representing the issuer’s largest Sterling Benchmark transaction to date.

The new mandate was announced on Wednesday, 9th January, at 12.00pm London time with IPTs of UKT 4% March 2022 plus 48bps area. Indications of interest built steadily throughout the European afternoon with strong participation from European bank treasuries.

Books officially opened on Thursday morning, just before 8:00am London time, with unchanged price guidance. The orderbook attracted very high quality investors from the onset, enabling the issuer to release a book update of £300 million before 9:00am London time and reaching £500 million within the hour.

The final spread was set at UKT 4% March 2022 plus 47bps and final books closed in excess of £650 million, with orders from 30 different accounts. This enabled the issuer to set the size at £600 million. 

The transaction was priced shortly after at 1:20pm London time with an annual coupon of 1.125% and a reoffer price of 99.669%, equating to a reoffer yield of 1.229%.

Investor breakdown

By investor type
Banks: 72%
Asset Manager: 16%
CB / OI: 12%

By region
UK: 84
EMEA (excl UK): 16

Fondée en 1956, la CEB (Banque de Développement du Conseil de l'Europe) compte 41 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 (Aa1 auprès de Moody's, perspective stable, AA+ auprès de Standard & Poor's, perspective positive et AA+ auprès de Fitch 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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