European Investment Bank to price €100 million in bonds on Ethereum: report
April 27, 2021, 12:53PM EDT
1 min read
The European Investment Bank (EIB), the investment and development arm of the European Union, plans to price €100 million in bonds registered in the Ethereum network.
According to a report by Bloomberg, the EIB’s inaugural blockchain bond sale will consist of €100 million in two-year notes. The bonds could be priced today.
The sale of the Ethereum-based bonds is being overseen by investment banks Goldman Sachs, Banco Santander, and Societe Generale. The news follows an earlier report by Bloomberg on the banks’ appointment on April 13.
Both Santander and Societe Generale have issued bonds on the public Ethereum blockchain before. The latter issued the larger bond – a €100 million covered bond issued as a security token which was handed a triple-A rating by Moody’s and Fitch.
Jean-Marc Stenger, chief executive of Société Générale’s enterprise blockchain unit Forge, told The Block last year that the bank has a “natural preference” for public blockchains. Forge was set up to help banks issue securities using blockchain technologies.
The EIB was contacted for comment but did not respond by the time of publication.