NIB’s USD 2bn global benchmark priced

On 7 February, NIB priced a 3-year global USD 2 billion benchmark transaction. Due 14 April 2016, the deal pays a coupon of 0.5% and to give a spread of 2 basis points through mid-swaps, equivalent to 17 basis points over the current 3-year US Treasury note. Joint-lead managers were Deutsche Bank, HSBC and RBC CM.

“This is the largest USD benchmark in the Bank’s history with the biggest order book ever achieved by NIB. We were pleased to see investors show NIB’s funding programme such strong support and trust. We were happy to upsize the transaction due the outstanding demand from high quality investors,” says Jens Hellerup, Head of Funding and Investor Relations at NIB.

This is NIB’s first USD benchmark in 2013. The issue received immediate strong investor demand across Asia, Europe, Middle East and Africa. Due to the high quality of the orderbook, the final book was in excess of USD 2.7 billion, with around 50 investors participating. Central banks and official institutions accounted for 79% of the orderbook. The geographical distribution was balanced between EMEA 40%, Asia Pacific 33% and the Americas 27%.

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
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