14 May 2020
NIB issues 3-year USD 1.5 billion global benchmark
On 13 May 2020, NIB priced a 3-year USD 1.5 billion benchmark, its largest since 2013. The transaction is NIB’s first USD benchmark of this year, and attracted strong support in excess of USD 2.75 billion.
The transaction had a broad distribution across geographies and investor types, with over 70 investors participating. Banks led the way with 45% of the final allocations, supplemented by Central Banks & Official Institutions at 38% and Funding managers, Pension and Insurance accounts at 16%.
The EMEA region made up 45%, Asia 15% and the Americas came in at 40%.
“We are delighted to see such strong demand for NIB’s first USD benchmark of this year. To reach a book of nearly USD 2.8 billion shows how investors appreciate NIB’s USD benchmark strategy, even in one of the biggest crises the global economy has seen”, says Jens Hellerup, Head of Funding and Investor Relations at NIB.
See a joint press release on the bond transaction (PDF)
| Bond summary terms | |
| Issuer: | Nordic Investment Bank |
| Rating: | Aaa / AAA by Moody’s / S&P |
| Issue amount: | USD 1,500 million |
| Coupon: | 0.375%, semi-annual |
| Launch date: | 13 May 2020 |
| Payment date: | 20 May 2020 |
| Maturity date: | 19 May 2023 |
| Re-offer spread: | MS +13bps |
| Joint lead managers: | Barclays, Nomura, RBC CM, TD Securities |
| ISIN: | US65562QBN43 |
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
Ms Angela Brusas, Director, Funding and Investor Relations, at +358 961 811 403, angela.brusas@nib.int
Mr Alexander Ruf, Director, Funding and Investor Relations, at +358 961 811 402, alexander.ruf@nib.int