Gide Loyrette Nouel and Clifford Chance have advised on the syndicated issuance of €1 billion ($1.1 billion) in bonds by the Council of Europe Development Bank to help European countries respond to the COVID-19 pandemic, Gide said in a statement.
The COVID-19 Response Social Inclusion Bonds carry an interest rate of 0% and are due in 2027. They were issued within the development bank’s Social Inclusion Bond framework, which supports new or existing social projects in 41 member countries in Europe.
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