BAKU, Azerbaijan, March 6. The European Bank for Reconstruction and Development (EBRD) priced its first 10-year USD Global transaction in twenty years on March 5, 2024, Trend reports.
According to the EBRD, the $1 billion new issue is the issuer's second USD benchmark this year, following its $2.5 billion 5-year offering last month.
The deal drew significant interest from Central Banks and official institutions around the world, resulting in 44 percent of the allocation.
Geographically, the distribution was spread throughout Europe, the Middle East, and Africa (EMEA) (45 percent), Asia (43 percent), and North America (12 percent).
Furthermore, the transaction attracted significant interest from a wide range of investors, demonstrating its broad appeal.
At the same time, Citi, Goldman Sachs, J.P. Morgan, and HSBC served as joint lead executives on the transaction. Regarding this transaction.
Meanwhile, the bond was issued at a reoffer price of 99.469 percent and pays a coupon of 4.25 percent semi-annually.
The Bank notes that this gives a re-offer yield of 4.316 percent, equivalent to a spread of +16.7 bps above the current 10-year US Treasury.