By William Gullotti and Cristal Cody
Buffalo, N.Y., Nov. 22 – Nordic Investment Bank sold a $350 million add-on to its floating-rate global notes due May 12, 2026 (Aaa/AAA) on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
The notes will be consolidated and form a single issue with the $700 million of notes issued on May 12, 2021, the first $50 million add-on issued on May 16, 2022 and the second $100 million add-on issued on Aug. 23.
The coupon is SOFR plus 100 basis points. Interest is payable quarterly.
The reoffer price was 101.916 to yield SOFR plus 41 bps. According to a market source, price talk was in the SOFR plus 41 bps area.
HSBC Bank plc and J.P. Morgan SE are the joint bookrunners.
The notes are listed on the Luxembourg Exchange.
Nordic Investment Bank is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.
| Issuer: | Nordic Investment Bank
|
| Amount: | $350 million
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| Issue: | Floating-rate global notes add-on
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| Maturity: | May 12, 2026
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| Bookrunners: | HSBC Bank plc and J.P. Morgan SE
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| Fiscal agent: | Citibank NA
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| Coupon: | SOFR plus 100 bps
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| Price: | 101.916
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| Yield: | SOFR plus 41 bps
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| Trade date: | Nov. 22
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| Settlement date: | Nov. 30
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Distribution: | SEC registered
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| Price talk: | SOFR plus 41 bps area
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| Cusip: | 65562QBR5
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| Total amount: | $1.2 billion, including $700 million issued May 12, 2021, $50 million add-on issued May 16, 2022, $100 million add-on issued Aug. 23
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