NIB participates in Maxima’s inaugural commercial paper issuance
The Nordic Investment Bank has invested in Lithuanian food retailer’s Maxima Grupė inaugural commercial paper (CP) issuance. This is NIB’s first participation in the Baltic CP market, and the first issuance of such securities in the Baltic region.
The nominal value of the transaction amounts to €40 million. The notes were subscribed by institutional investors represented from the Nordic-Baltic region, as well as United Kingdom and other European countries. Demand for the securities exceeded €100 million.
On 5 March, NIB has signed a Memorandum of Understanding with the European Bank for Reconstruction and Development and the central banks of Estonia, Latvia, and Lithuania in the joint effort to develop a regional market for CP. The transaction is the first under this framework.
