By Marisa Wong and Cristal Cody
Los Angeles, March 7 – Nordic Investment Bank priced $1.5 billion of 4.375% five-year global notes (expected: Aaa/AAA) on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
The bonds priced at 99.911. Spread pricing came at 30 basis points above SOFR mid-swaps, or at Treasuries plus 11.15 bps. Initial talk was in the SOFR mid-swaps plus 33 bps area. A revision guided the notes in to the SOFR mid-swaps plus 32 bps area.
Bank of Montreal Europe plc, BofA Securities Europe SA, Nomura International plc and RBC Capital Markets, LLC are the managers.
Nordic Investment Bank is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.
| Issuer: | Nordic Investment Bank
|
| Amount: | $1.5 billion
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| Issue: | Global notes
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| Maturity: | March 14, 2028
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| Managers: | Bank of Montreal Europe plc, BofA Securities Europe SA, Nomura International plc and RBC Capital Markets, LLC
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| Coupon: | 4.375%
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| Price: | 99.911
|
| Spread: | SOFR mid-swaps plus 30 bps, or Treasuries plus 11.15 bps
|
| Pricing date: | March 7
|
| Settlement date: | March 14
|
| Expected ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Listing: | Luxembourg
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| Price talk: | SOFR mid-swaps plus 33 bps area
|
| Cusip: | 65562QBW4
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