By Cristal Cody
Tupelo, Miss., March 21 – Nordic Investment Bank priced a $500 million offering of 2.5% global notes due April 28, 2020 (Aaa/AAA) on Wednesday at a spread of mid-swaps minus 6 basis points, or Treasuries plus 25.3 bps, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes were guided to price in the mid-swaps minus 6 bps area.
Merrill Lynch International, RBC Capital Markets, LLC and TD Securities (USA) LLC were the bookrunners.
Nordic Investment Bank is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.
| Issuer: | Nordic Investment Bank
|
| Amount: | $500 million
|
| Description: | Global notes
|
| Maturity: | April 28, 2020
|
| Bookrunners: | Merrill Lynch International, RBC Capital Markets LLC and TD Securities (USA) LLC
|
| Coupon: | 2.5%
|
| Price: | 99.796
|
| Spread: | Mid-swaps minus 6 bps, or Treasuries 25.3 bps
|
| Trade date: | March 21
|
| Settlement date: | March 28
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps minus 6 bps area
|
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