The Council of Europe Development Bank is to price its $1 billion, five-year global bond at 50 basis points over midswaps, one of the banks running the deal said Tuesday.

This is in line with initial guidance which was in the area of 50 basis points over midswaps.

Books are in excess of $1.3 billion.

Barclays Capital, Daiwa, HSBC Holdings PLC, and RBC Capital Markets are the lead managers on the deal, expected to price today.

The issuer is rated triple-A by all three major ratings companies.

-By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9236; Sarka.Halasova@dowjones.com

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