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Commentary & Deal Flow

by Anna Tkachenko

Jun 10, 2026 7:10 AM ET

ALLOCATIONS OUT: Council of Europe Development Bank €1bn 10yr Sr Unsec; MS+23bp

IGC European Market: Deal Flow - SSA

Issuer	Term	Maturity	Size	Ranking	Type	ISIN	Guidance	Spread Set
Council of Europe Development Bank	10yr	17-Jun-36	€1bn	Sr Unsec	Fixed	XS3410918612	MS+24a	MS+23

Final book: In excess of €1.25bn (incl €150m JLM)

Launched: 10yr: €1bn @ MS+23bp
Guidance: 10yr: MS+24a

Issuer: Council of Europe Development Bank (Ticker: COE)
Issuer LEI: 549300UYNXMI821WYG82
Ratings: Aaa/AAA/AAA (Moody's/S&P/Fitch) (all stable)
Format: Issued under MTN programme, TEFRA D, Reg S bearer, HQLA1, 0% RW
Size: €1bn
Settlement: 17-Jun-26 (T+5)
Maturity: 17-Jun-36
Coupon: Fixed, Annual, ACT/ACT
Reference Benchmark: DBR 2.9% Feb-36 / HR 102%
Hedge Deadline: 12:30h Ldn / 13:30h CET
Listing: Luxembourg Stock Exchange's regulated market
Denominations: €1,000 + €1,000
Bookrunners: CACIB (B&D/DM), DB, GSBE SE, Nomura
ISIN: XS3410918612
Timing: Books to close 11:30h Ldn / 12:30h CET
Advertisement: The Base Prospectus is available at: https://coebank.org/en/investor-relations/funding/bond-issue-programmes/