NIB’s USD 1bn global benchmark priced

On 2 April, NIB priced a long 5-year global USD 1 billion benchmark transaction. Due 14 June 2019, the deal pays a coupon of 1.875% s.a. and pays a spread of 2 basis points over mid-swaps, equivalent to 17 basis points over the current 5-year US Treasury note.

Joint-lead managers were HSBC, JP Morgan, Nomura and TD Securities.

“NIB is very happy with the deal. We have been following the market for a while and after a shortage of supply from top tier credits in the 5 year segment, we saw a clear window to bring a strong deal to market, at the tightest spread for a 5 year transaction from any Supra and Agencies this year.” says Jens Hellerup, Head of Funding and Investor Relations at NIB.

This is NIB’s first USD benchmark in 2014.

The issue received immediate strong investor demand across Asia, Europe, the Americas and Africa. The final orderbook was in excess of USD 1.6 billion, with around 40 investors participating.

Central banks and official institutions accounted for 50% of the orderbook and 40% of the orders came from banks. The geographical distribution was balanced between EMEA 49%, Asia Pacific 32% and the Americas 19%.

Please find more information in the joint press release.

For more information, please contact
Jens Hellerup, Director, Head of Funding and Investor Relations
Tel. +358 9 618 11401
mixIt(‘jen’,’s.hellerup’,’nib’,’.int’,”,’1396851161230-1′);jens.hellerup (at) nib.int