The European Investment Bank (EIB) has appointed BNP Paribas Securities Services as Fiscal Agent for its €1 billion issue marketed as a ‘European Public Offering of Securities’ (EPOS), a new 10-year bond which was recently distributed in 12 domestic markets across the Eurozone.
This is the first bond issued by the EIB under the umbrella of the EU Prospectus Directive, and the first EIB bond passported in each of the 12 countries of the Eurozone. It meets the European Central Bank’s Standard 3 eligibility requirements for use as collateral for Eurosystem monetary policy and intra-day credit operations, requirements which will be mandatory from the end of 2006.
“For this first ever offering of EPOS securities, we are delighted to have assisted the EIB in delivering this innovative issue to market,” says Gary Webb, the Head of Sales and Relationship Management for Global Corporate Trust at BNP Paribas Securities Services. “It is important to our institution to ensure that we closely follow structural and regulatory changes in the markets we operate, therefore ensuring that our clients can have confidence in our ability to meet their existing and future needs.”