The FIANCIAL -- The European Investment Bank (EIB) priced its first bond in domestic Norwegian format geared for the local market.

The NOK 1bn (EUR 135m) issue carries a quarterly coupon of 3mNIBOR+20bp and has a final maturity date of 27th February 2018. It has been placed with local fund managers and bank treasuries.

The bond will be registered with the Norwegian Central Securities Depository, Verdipapirsentralen (VPS), and listed at the Luxembourg Stock Exchange.

The EIB has a strategic approach to local capital markets. Issuance of bonds with domestic registration allows the Bank to broaden its investor base and achieve further diversification of its borrowing programme. By accessing the NOK domestic capital market, the EIB has not only demonstrated its appeal with Norwegian investors but also complemented its international NOK funding programme.

Norwegian Kroner was a significant funding currency for the EIB in 2012, raising NOK 4.23bn. In 2013, the Bank has so far launched 4 transactions in international NOK format for a total of NOK 1.8bn, placed mostly with Asian and European accounts.

As the European Investment Bank said, the lead manager for the transaction was DNB Bank ASA.

With this issue, EIB has raised over EUR 17.5 billion of its funding target of EUR 70 billion in 2013.

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