Commentary & Deal Flow

Reoffer: 3yr: MS-2bp / 99.822 / 2.682%
Benchmark: 3yr: OBL #190 10/29 @ 99.83% / B+13.3bps / HR: 99%

Final Books: In excess of €40bn (incl. €3.0bn JLM interest)

Launched: 3yr: €4bn @ MS-2bp - Book in excess of €30bn (incl. €3.0bn JLM interest)
Guidance: 3yr: MS+0a

• Issuer: European Investment Bank (EIB)
• LEI: 5493006YXS1U5GIHE750
• Exp. Issue Ratings: Aaa / AAA / AAA (Moody’s/S&P/Fitch, all stable)
• Status: Senior unsecured, 0% RW
• Format: EARN - Reg S, Category 1, Registered Form
• Size: €4bn
• Settlement: 28-Apr-26 (T+5)
• Maturity: 15-Oct-29
• Coupon: 2.625% Annual, ACT/ACT, short first coupon paid on 15-Oct-26
• Yield: 2.682%
• Price: 99.822%
• Spread: MS -2bps
• Benchmark: OBL #190 10/29 +13.3bps (Price: 99.83% / Yield: 2.549%) / HR: 99%
• Leads: Commerzbank / Goldman Sachs Bank Europe SE / HSBC (DM/B&D) / NatWest
• Listing/Denoms: Luxembourg Stock Exchange’s Regulated Market / €1k+€1k
• Governing Law: Luxembourg Law
• Timing: Priced. TOE: 12:21 UKT / 13:21 CET | FTT immediately
• ISIN: EU000A4ETUZ1 / Common Code: 335603842
• Target Market: The manufacturer target markets (MIFID II and UK MiFIR product governance) as assessed by the lead managers are Retail / Professional / Eligible Counterparties (all distribution channels)
• Advertisement: The final Prospectus, when published, will be available at https://www.luxse.com/issuer/BEI/23931