By William Gullotti and Cristal Cody
Buffalo, N.Y., Feb. 21 – Nordic Investment Bank priced $1.5 billion of 4.25% five-year global notes (expected: Aaa/AAA) on Wednesday, according to an FWP filing with the Securities and Exchange Commission and additional information provided by a market source.
The bonds priced at 99.471, or at SOFR mid-swaps plus 37 basis points. Alternatively, the spread was 13.1 basis points over Treasuries. As reported earlier, initial talk was in the SOFR mid-swaps plus 40 bps area. Guidance firmed to the 38 bps area during pricing.
Citigroup Global Markets Ltd., Deutsche Bank AG, HSBC Bank plc and J.P. Morgan SE are the managers.
The SEC-registered global notes will be listed on the regulated market of the Luxembourg Stock Exchange.
Nordic Investment Bank is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.
| Issuer: | Nordic Investment Bank
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| Amount: | $1.5 billion
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| Issue: | Global notes
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| Maturity: | Feb. 28, 2029
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| Managers: | Citigroup Global Markets Ltd., Deutsche Bank AG, HSBC Bank plc and J.P. Morgan SE
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| Coupon: | 4.25%
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| Price: | 99.471
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| Spread: | SOFR mid-swaps plus 37 bps, or Treasuries plus 13.1 bps
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 28
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| Expected ratings: | Moody’s: Aaa
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| S&P: AAA
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| Listing: | Luxembourg
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| Distribution: | SEC registered
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| Price talk: | SOFR mid-swaps plus 40 bps area; guidance tightened to SOFR mid-swaps plus 38 bps area
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| Cusip: | 65562QBY0
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