The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Global borrowers - Best supranational/agency borrower

European Investment Bank

European Investment Bank (EIB) has always been a big, important issuer. But in recent years its funding needs have swollen to record levels. In 2002 it raised e38 billion - e2 billion of it pre-funding for 2003 - and this year it is expected to issue about e41 billion. Its funding officials have had to step up their efforts to widen their debt's distribution and tap every available source of demand. Over the past year it has probably been the benchmark issuer for its peers.

EIB used to be considered comparatively opportunistic and aggressive on price and timing, but recently it has been concentrating more on transparent investor relations and fair pricing. With its funding needs as big as they are, and with the investors' choice of AAA credits wider than ever, the bank cannot risk alienating investors by issuing at the wrong price. Bankers acknowledge the shift. One originator says: "I remember a few deals in the past being challenging to do because people heard the name EIB and assumed they were about to get ripped off. The EIB has worked very hard to dispel that image lately, and over the past year they've succeeded brilliantly."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree