EIB Hires Banks for Debut SONIA-Linked Floating-Rate Note
June 18 2018 - 6:26AM
Dow Jones News
By Emese Bartha
The European Investment Bank has mandated HSBC Holdings PLC
(HSBA.LN), NatWest Markets, RBC CM and TD Securities to explore an
opportunity to launch a benchmark floating-rate note denominated in
British pounds, one of the lead-manager banks said Monday in a deal
announcement.
The note would be linked to SONIA, the effective reference
overnight rate for unsecured transactions in the sterling
market.
The issuance would likely be launched and priced in the near
future, subject to market conditions, according to the lead-manager
bank.
The EIB is a frequent issuer in a broad range of currencies.
However, this would be the first benchmark SONIA floating-rate note
and could pave the way for future SONIA-linked issuances.
Write to Emese Bartha at emese.bartha@wsj.com
(END) Dow Jones Newswires
June 18, 2018 07:11 ET (11:11 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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