FMO issues $500m five-year fixed rate note

Dutch development bank FMO has priced a $500 million Reg S long five-year fixed rate no-grow benchmark.  

The benchmark offers a 1.750% coupon and a spread of +18.7 bps over Treasuries, equivalent to +20 bps over mid-swaps. 

Citi, HSBC, JPMorgan and Rabobank were joint Lead Managers on the deal. The transactions represents FMO’s second US Dollar denominated benchmark of 2019, following on from a five-year Green USD benchmark launched in February.