STERLING

摘要

The european investment bank took advantage of a deserted credit market on Thursday to tap its outstanding 1.5% February 2019 bond for £200m while tendering for two outstanding FRNs for cash. The bond tap, which it stated would not exceed the size of the buy-back, priced at 17bp over Gilts, in line with 17bp area guidance, and took the outstanding to £2bn. The two floating-rate notes the EU's bank was seeking to buy back were its February 2015s and January 2016s. According to the terms of the offer, holders of the £2.9bn 2015 and £3.325bn 2016 bonds that placed firm orders for the new bonds with the lead managers prior to the Indications of Interest deadline would get priority in the tap.