NIB issues its largest Environmental Bond at EUR 1 billion
On 21 May, the Nordic Investment Bank (NIB) priced a EUR 1 billion, seven-year NIB Environmental Bond (NEB), the largest NEB issuance to date. The order book was also the largest on record, supported by high-quality investor participation.
In accordance with NIB’s Environmental Bond Framework, the use of proceeds from this NEB transaction will be used for financing selected loan projects, which are considered to benefit the environment.
With this transaction, NIB has raised approximately 63% in 2026 towards its annual funding target of EUR 8.5-9.5 billion. Since 2011, and with this transaction, NIB has issued more than EUR 12 billion in green bonds, including transactions in all Nordic currencies .
“Reaching our largest NIB Environmental Bond issuance since 2011 is a significant milestone, underscoring both the depth of the market and the continued importance of financing investments that support the green transition,” says Kim Skov Jensen, CFO, NIB.
“In a week marked by significant supply, we were able to carefully navigate the markets and take advantage of the current supportive and resilient bond market sentiment. Thank you to our investors and lead managers for reaching the largest book and trade for a NIB Environmental bond,” says Jens Hellerup, Senior Director and Head of Treasury, NIB.
“Congratulations to NIB on their new 1bn EUR 7y Green bond. The new 7y is the largest green bond from NIB and provides a new longest point on NIB’s benchmark curve. Today’s orderbook underscores the huge demand for NIB and green. NIB is a rare name in the EUR market with a strong following across investors, especially with central banks and official institutions,” says Bo Søndergaard, Head of SSA, Danske Bank.
“What a stellar success story with the biggest ever NEB printed just now with a total issue size of EUR 1bn! Team DZ feels honoured to have partaken on this milestone trade. Congratulations to the NIB team on this very successful first NIB EUR benchmark issuance in 2026, “says Philipp Bergmann, Vice President, SSA DCM, DZ BANK.
“Big congratulations to Nordic Investment Bank! NIB brilliantly navigated the rates market volatility to time its EUR NIB Environmental Bond benchmark – the first EUR benchmark for NIB in 2026. Despite the very active primary SSA market in the beginning of the week NIB’s final order book was of outstanding quality – once again a testament of NIB’s investor base and the work NIB is doing consistently on sustainability. Nordea is delighted to have been on this transaction and look forward to future cooperation,” says Marcus Viitamäki, Head of SSA, Nordea.
“CACIB is delighted to have supported NIB in their most recent NEB transaction, particularly given the challenging market conditions and headline risk volatility. The deal attracted solid demand, achieving 2.3x oversubscription with a high-quality order book, cementing tight levels versus peers. This outcome once again demonstrates NIB’s position as a leading issuer. NIB has shown great agility in navigating these conditions, and we congratulate the team on an excellent result,” says Shadie Paris, VP, CACIB.
| Bond summary terms: | |
|---|---|
| Issuer: | Nordic Investment Bank (NIB) |
| Rating: | Aaa / AAA by Moody’s / S&P |
| Issue amount: | EUR 1 billion |
| Coupon: | 3.125% |
| Trade date: | 21 May 2026 |
| Settlement date: | 28 May 2026 (T+5) |
| Maturity date: | 30 May 2033 |
| Re-offer spread vs. midswaps: | +13 bps |
| Re-offer price: | 99.894% |
| Re-offer yield: | 3.142% |
| Listing: | Nasdaq Helsinki |
| Joint lead managers: | Credit Agricole CIB, Danske Bank, DZ Bank, Nordea Bank Abp |
| ISIN: | XS3391770743 |
NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.
For further information, please contact:
Jens Hellerup, Senior Director, Head of Treasury
Jens.Hellerup@nib.int, +358 961 811 401
Angela Brusas, Director, Funding & Investor Relations
angela.brusas@nib.int, +358 961 811 403
Alexander Ruf, Director, Funding & Investor Relations
Alexander.Ruf@nib.int, +358 961 811 402