Funding highlights 2013
NIB's funding plan for 2013 is expected to be around EUR 4.5 billion.
In line with previous years, NIB continues to aim for global diversification with regards to currency and investor distribution. Furthermore, one to three USD or EUR 1 billion benchmark transactions will be carried out.
By the end of May NIB has completed 67% of the funding plan, consisting of 20 transactions in 8 different currencies. For more information, please see Funding transactions. Average maturity of new issues at end of May was 4.4 years.
NIB issued its largest USD global benchmark in February. The 3-year USD 2 billion benchmark is due 14 April 2016 paying a coupon of 0.5% and gave a spread of 2 basis points through mid-swaps, equivalent to 17 basis points over the current 3-year US Treasury note. Please see news and joint press release.
In January NIB priced a new fixed-rate NZD 525 million Kauri bond with a maturity of five years. This was the largest Kauri issue for settlement since 2006. In May this issue was tapped by NZD 175mn bringing the total amount to NZD 700mn, which makes it the biggest line for NIB in the Kauri market. NIB’s outstanding Kauri volume is now NZD 1.725 billion, consisting of five Kauri lines, in maturities between 2014 and 2021.
In the Kangaroo market NIB priced a new fixed-rate AUD 400 million Kangaroo bond in February due 2018. Please see news. In May the 2022 line was tapped by another AUD 100mn, bringing the total size to AUD 875mn. NIB’s outstanding Kangaroo volume is now AUD 3.15 billion consisting of six lines, in maturities between 2014 and 2022.
Graphs
Arrangers for NIB debt issues
Maturity distribution of new funding
Currency distribution of new funding
Arrangers for NIB debt issues
Maturity distribution of new funding
Currency distribution of new funding
News
Financial figures for January-April 2013
The financial information on the period of January-April 2013 is now available.
17 Jun 2013
NIB’s 2018 Kauri line increased to NZD 700m
NIB has increased its Kauri issue due 30 January 2018 with NZD 175 million. The total size of the deal has thus been brought to NZD 700 million.
28 May 2013
NIB’s 10-year Kangaroo deal increased to AUD 875m
NIB has issued its fourth increase, AUD 100 million, to its 10-year Kangaroo issue due 19 April 2022.
15 May 2013
Articles
Funding in 2013: interim results, highlights and outlook
Halfway through 2013, the Bank has accomplished 66% of the funding requirements for the year, having issued a milestone USD 2 billion benchmark
12 Jun 2013
NIB Environmental Bonds: a product for environmentally conscious investors
Environmental bonds have become a well-established asset for a growing number of investors in recent years. Pursuant to its mandate, NIB offers investments targeted at environmental improvements.
26 Apr 2013
Revised impairment method strengthens NIB’s balance sheet
NIB has revised its method for collective impairments. They are in the 2012 income statement in addition to the allowances for specific impairments. Head of Funding and Investor Relations, Mr Jens Hellerup gives his thoughts on the subject.
12 Mar 2013
