EIB increases 10-year trade

On March 13 the European Investment Bank (EIB) brought a substantial increase to its new January 2017 bonds, opened in January this year. The A$400 million increase doubles the size of the outstanding bonds in this maturity, and brings the EIB’s total outstanding in the Kangaroo bond market to A$5.05 billion. The increase to the 10-year deal was led by RBC Capital Markets and priced at 34.5 basis points over the reference government bond, which equates to 18 basis points through swap.