Inaugural EUR 1bn benchmark launched

On 1 April, NIB launched and priced its first 5-year EUR 1 billion benchmark. Due 8 April 2014, the deal pays a coupon of 3% and has a reoffer price of 99.484. The joint lead managers were BNP Paribas, HSBC and J.P. Morgan, with Nordea as a senior co-lead. The pay day is set at 8 April. This is the Bank’s inaugural EUR-denominated benchmark transaction.

“This transaction represents the largest offering NIB has made thus far in its main lending currency. Through this transaction, NIB is achieving its goal of attracting new investors, with over 50% of the deal supported by investors, who have not bought NIB bonds recently. The pricing of mid-swaps at +50 bps was in line with the most recent supranational issuance at this maturity,” says Kari Kukka, Head of Funding at NIB.

See also BNP Paribas, HSBC and J.P. Morgan press points.

For additional information, please contact Mr Kari Kukka, Senior Director, Head of Funding, tel. +358 10 618 0464 or kari.kukka@nib.int.