NIB issues €500m Environmental Bond

The Nordic Investment Bank has issued its first NIB Environmental Bond (NEB) for the year 2021. The €500 million transaction, due April 2027, was successfully tapped, bringing it to a new total outstanding of €1 billion. NIB, with this re-opening, reaches €5 billion of environmental bond issuance.

The final orderbook, more than €1.6 billion, allowed NIB to set the final spread at MS-11 bps (yield of -0,4011%), a 3bps tightening from initial guidance. BofA Securities, Danske Bank, Societe Generale were Joint Lead Managers. The bond, which pays a coupon of 0%, will be used for financing selected loans to projects, which are considered to enhance the environment in a NIB member country.