Commentary & Deal Flow

The European Investment Bank (EIB), rated Aaa/AAA/AAA/AAA (all stable), has mandated BNP Paribas, J.P. Morgan, Natixis and NatWest to lead manage a new 10-year Climate Awareness EARN benchmark due 15-Jul-36.

The transaction (Reg S, Registered, Cat1) will be launched in the near future, subject to market conditions.

• Use of Proceeds: The proceeds will be allocated to EIB’s lending to activities contributing substantially to climate change mitigation in line with evolving EU sustainable finance legislation, including the EU Taxonomy Regulation. Pending disbursements, the proceeds will be invested in money market instruments.
• Target Market: The manufacturer target market (MIFID II and UK MiFIR product governance) as assessed by the lead managers is retail, eligible counterparties and professionals (all distribution channels).
• Stabilisation: FCA/ICMA stabilisation.