The EIB is issuing an ESTR-linked bond, making it the first major issuer to do so. In a statement, EBRD President Werner Hoyer said that “ESTR bonds are one of our most important tools for financing infrastructure projects in Europe.” The EIB was also a front runner for SONIA-linked debt, launching the first deal tied to the sterling RFR in June 2018.
The EIB is issuing an ESTR-linked bond, making it the first major issuer to do so. The €1bn three-year FRN was priced on 2 October at 11bp over ESTR and coincided with the first day the RFR was published. The EIB was also a front runner for SONIA-linked debt, launching the first deal tied to the sterling RFR in June 2018.