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EIB draws $6 bln orders for 3-yr global bond

Mon Apr 7, 2008 10:27pm IST
 
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LONDON, April 7 (Reuters) - The European Investment Bank [EIB.UL] said on Monday it drew orders of $6 billion for its $4 billion three-year global bond, priced earlier in the session, taking advantage of demand for high-quality debt in volatile markets.

Demand came mainly from central banks and other institutions, which mopped up 61 percent of the bonds, with fund managers buying 16 percent, banks 17 percent, retail investors 5 percent and corporates 1 percent, the EIB said.

The bond was priced at 86 basis points over Treasuries and pays a coupon of 2.625 percent.

Goldman Sachs, JP Morgan and Nomura managed the sale.

The EIB, the financing arm of the European Union, is rated triple-A by all three major ratings agencies.

For full details of the bond please double click on [ID:nL079167]. (Reporting by Richard Barley, editing by Will Waterman)

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