Bank of England Launches US$ 5-Year Eurobond to Finance Foreign Currency Reserves

Key facts

• A US$ 5-year RegS/144A eurobond was launched to finance the Bank of England's foreign currency reserves
• The bond pays a coupon of 4.875 per cent per annum and matures on 15 October 2031
• Joint Lead Managers were J.P. Morgan Securities plc, RBC Capital Markets, Merrill Lynch International, and Crédit Agricole Corporate and Investment Bank, announced on 21 September 2026
• It was the second 2026 operation under the Bank's Debt Issuance Programme
• A Market Notice published on 23 September 2025 set a shift to two benchmark issuances annually with a regular timetable and a group of banks to market and distribute each issue
• The Bank's reserves are separate from the Government's own foreign exchange reserves, which the Bank manages as the Treasury's agent
• The manufacturer target market under UK MiFIR/MiFID II Product Governance is ECP/Professionals only, with FCA/ICMA stabilisation applying
• The notice relies on Rule 135e of the US Securities Act of 1933 and is not an offer of securities for sale in the United States
• Prospective investors are referred to the prospectus dated 9 February 2026 and the forthcoming Final Terms
• The notice is directed only at UK relevant persons under section 21(1) of the Financial Services and Markets Act 2000
• Distribution is restricted in the United States, Canada, Australia, Japan, and other jurisdictions where it would be unlawful
• Press enquiries: +44 (0)20 3461 4411 or press@bankofengland.co.uk