On July 1st, Crédit Agricole CIB acted as joint bookrunner for the 10-year EUR 1,000 million benchmark issue launched by the Council of Europe Development Bank (CEB). The last public transaction in euro of the CEB was issued 11 years ago. This transaction aims to refinance this latest. Deutsche Bank was the other bank involved in the deal.

 

The book went up to EUR 1,200 million, with good quality accounts. This fixed rate deal, due to mature in 2020, was priced at a coupon of 3%.

 

This transaction is highly visible for Crédit Agricole CIB. It reinforces the Bank position alongside major public institutions.

 

Based in Paris, the CEB is composed of 40 member countries. This institution is a multilateral development bank with a social vocation. Established on 16 April 1956 in order to channel funds to ease refugee problems, the CEB’s functions have evolved to include funding disaster relief and a wider range of social projects linked to three main focus areas: social integration, environmental management and support for human capital.