NIB issues 7-year €500m Environmental Bond

The Nordic Investment Bank has returned to the sustainable market by launching a seven-year €500 million NIB Environmental Bond, due April 2027. 

BofA Securities, Crédit Agricole CIB, and Nordea were joint lead managers.

The proceeds from this transaction - NIB’s first Environmental Bond issue of 2020 - will be used for sustainable projects which are assessed to benefit the environment and to contribute to resilience and climate change mitigation in NIB’s member countries. 

The final order book came to above €2.9 billion, meaning the deal was almost six times covered - the largest order book ever achieved for an Environmental Bond benchmark. Strong demand led to a final spread of MS + 2 basis points.