NIB well oversubscribed despite pricing ‘at multi-year tight’

The Nordic Investment Bank was able to ratchet in pricing to the lowest five year spread for several years as it fed a dollar market starved of supply.

  • By Craig McGlashan
  • 12 Jul 2018

Leads Citi, HSBC, RBC Capital Markets and TD Securities priced a no-grow $1bn July 2023 global for the issuer at 3bp over mid-swaps, at the tight end of revised guidance of 4bp area. Initial price thoughts and opening guidance were 5bp area.

That left ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 13,577.78 16 10.55%
2 Citi 12,045.36 19 9.36%
3 JPMorgan 11,945.26 17 9.28%
4 HSBC 10,316.86 14 8.01%
5 NatWest Markets 8,487.83 7 6.59%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,397.90 76 12.21%
2 JPMorgan 23,142.72 55 9.30%
3 HSBC 22,658.54 50 9.10%
4 Bank of America Merrill Lynch 19,305.57 55 7.76%
5 Deutsche Bank 19,242.86 28 7.73%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 26,932.95 62 8.23%
2 Barclays 24,910.01 43 7.61%
3 HSBC 23,409.02 79 7.15%
4 UniCredit 23,096.80 58 7.06%
5 BNP Paribas 21,471.54 40 6.56%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 58,719.26 309 7.23%
2 Citi 56,898.32 195 7.00%
3 HSBC 55,446.70 198 6.82%
4 Barclays 45,889.96 155 5.65%
5 Deutsche Bank 42,500.76 118 5.23%