What type of securities does the EIB issue?
EIB bonds span a wide range from large benchmark/reference issues to smaller, often structured issues targeted for retail or specific institutional demand. With the aim of creating large reference issues with a high degree of liquidity, the EIB has built up in recent years series of benchmark issues all along the yield curves in the main currencies EUR, GBP and USD. Secondary market liquidity is provided by the major investment banks in each market. These bonds are mainly bought at launch by institutional investors, while the smaller size, plain vanilla issues, which the Bank offers in a wide range of currencies, are often taken up by retail investors. The specific needs of both retail and institutional investors are catered for through different kinds of structured, tailor-made issues, which include elements like calls, caps and the linking of coupons and redemption amounts to the movements in share indices and currencies.
