International Bank for Economic Co-operation took part in the IPO of the 10-year bonds of the Council of Europe Development Bank. The organizers of the placement, represented by the global investment banks: Goldman Sachs, Deutsche Bank, BNP Paribas, HSBC, satisfied the IBEC's application for 20 million euros. The total volume of the issue is 1 billion euros. Investors showed high interest in the issue, which ensured a successful placement.
The Council of Europe Development Bank is an international financial organization with 42 member states, including 22 EU members. The Bank specializes in supporting social projects in member countries, developing the social environment, improving the quality of life of vulnerable groups of the population, and sustainable environmental development. All projects financed by the bank receive an opinion from the Secretary General of the Council of Europe on their compliance with the political and social goals of the organization.
The funds raised through the placement of bonds will be used to finance the statutory activities of the bank, to support existing and new projects. The compliance of the principles and objectives of the Council of Europe Development Bank with the strategic priorities of IBEC has become a significant factor for participation in this bond issue. Highly reliable securities add social weight to IBEC's asset portfolio.