NIB raises €1bn under new Covid-19 Response Bond Framework

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By Burhan Khadbai
30 Mar 2020

The Nordic Investment Bank on Monday became the latest public sector borrower to use the capital markets to provide emergency financing in response to the coronavirus crisis. But rather than selling a conventional or socially responsible bond, the supranational has developed a new framework specially designed to tackle the pandemic.

The €1bn no-grow three year bond was priced at mid-swaps plus 6bp, 3bp tighter than guidance, with a final book of over €3.1bn. BNP Paribas, Danske Bank, JP Morgan and HSBC were the leads.

“It went very well,” said an SSA DCM banker at ...

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