NIB lists SEK4bn COVID-19 Response Bond

The Nordic Investment Bank has listed a three-year SEK4 billion (about $397 million) Response Bond on Nasdaq Stockholm.

The issue is NIB’s second Response Bond dedicated to financing projects that mitigate the impact of the COVID-19 pandemic, and NIB’s largest-ever issue in Swedish krona. Joint lead managers were SEB and Swedbank.

The proceeds of the bonds will finance eligible investments in the healthcare sector and alleviate frictions to supply chains, including the financing of a temporary increase in social security expenditures, such as unemployment, sickness, and child- and elderly care benefits.

Proceeds can also be used for on-lending to SMEs and larger companies, for example in the medical equipment sector.