One more successful USD-bond
On 10 June 2015, EAA returned to the capital market after having its debt issuance programme duly updated. The attention received by international investors showed that EAA has developed its position strongly.
The bond with a tenor of two years and a final volume of USD 500m achieved a subscription of more than USD 850m during the book-building process. This allowed for a tightening of the spread by one basis point to mid swap +7, finally. More than 66% of the allocation went to central banks and supranational institutions. Geographically, investors came about evenly from Europe (ex Germany) and from regions beyond.Market participants called this transaction remarkable and emphasised on the quality of the achieved investor base at a fair level of pricing.