Book size: 2000; Registration: Reg S Only; Comments: EUR1bn 7yr Social, fxd cpn 3.00% at 99.727, yld 3.044%. Spread: MS+16bps. 26.0bps vs DBR 2.3% 02/2033 @ 97.02 / HR 103%;
Deal Comments
UOP: The CEB intends to allocate an amount equal to the net proceeds raised through this Social Inclusion Bond to a portfolio of Eligible Social Loans, selected in accordance with the Social Eligibility Criteria set out in the Use of Proceeds section of its Social Inclusion Bond Framework in one or several of the following sectors of action: social housing for low-income persons; education and vocational training; health and social care; support to MSMEs for the creation and preservation of viable jobs. Proceeds will be managed with the aim to achieve a level of allocation for the portfolio of Eligible Social Loans which matches or exceeds the balance of the net proceeds from the outstanding portfolio of Social Inclusion Bonds. Additional Eligible Social Loans will be added to the Eligible Social Loans portfolio to the extent required to ensure that an amount equal to the net proceeds from outstanding Social Inclusion Bonds will be allocated to Eligible Social Loans.