New global USD 1bn benchmark

This is the second USD global benchmark transaction carried out by the Bank in 2008. The previous deal was an USD 1.25 billion 3-year. Investors responded immediately after the transaction had been announced on Tuesday morning, with books being fully subscribed in 45 minutes and total orders reaching USD 1.5 billion.

A slight improvement in the equity market accompanied by a slight rise in Treasury yields provided an attractive window for NIB to respond to some pent-up demand by real-money investors. The transaction was timed to be the first offering in the Sovereign/Supra/Agency market after the Asian Spring holidays.

NIB funding requirement for 2008 amounts to about EUR 4 billion.

See also HSBC, JPMorgan, Nomura 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.