NIB issues DKK 1 billion fixed rate bond
On 1 July 2019, NIB priced a new 20-year DKK 1 billion benchmark issue. This is the first bond NIB is listing on Nasdaq Copenhagen.
The bond has a final maturity of 01 July 2039, pays an annual coupon of 0.375%. The issue price was 99.234%. The yield at issuance was 0.415%, equivalent to a spread of +38bp over the Danish Government Bond 4.500% due November 2039.
“This bond marks NIB’s first DKK issue after more than twenty years of absence. Investors had started to look for long-dated assets. NIB’s excellent credit quality and Nordic-Baltic ownership fit this demand well. We chose to list at the Nasdaq Copenhagen to accommodate the Danish investor base”, says Jens Hellerup, Head of Funding and Investor Relations at NIB.
| Bond Summary Terms | |
| Issuer: | Nordic Investment Bank |
| Rating: | Aaa / AAA by Moody’s / S&P |
| Issue amount: | DKK 1,000,000,000 |
| Payment date: | 01 July 2019 |
| Maturity date: | 01 July 2039 |
| Coupon: | 0.375% p.a. (Act/Act, ICMA) |
| Re-offer price: | 99.234% |
| Denominations: | DKK 10,000 |
| ISIN: | XS2020698515 |
| Lead manager: | Nordea Bank Abp |
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Mr Jens Hellerup, Senior Director, Head of Funding and Investor Relations, at +358 961 811 401, jens.hellerup@nib.int