Nordic Investment Bank NIB
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Issuers to make better use of September window, and October pipeline now looks ‘very thin’ as rates worries add to US mid-term concerns -
Issuer moves swiftly to avoid tricky calendar in September, achieves tight spreads
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◆ NIB brings second dollar deal, prices inside supra peer ◆ OeKB executes carefully designed strategy ◆ Little NIP in either deal
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Internal move fills gap after Hellerup became treasurer earlier this year
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Helsinki-based supranational is 68% funded, opportunities in Aussie dollar and Nordic currencies also monitored
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◆ New environmental bond had a large size ◆ Book size was another record ◆ Pricing was close to the tightest European names
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Market participants have questioned if the differential in the risk-weightings between securitized and covered assets will affect demand for covered bonds
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Head of funding for 16 years steps up at Nordic supra
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Critics doubted the EU Green Bond Standard would catch on, but it is gaining new issuers and a following from investors
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◆ NIB head of funding Jens Hellerup on deal timing ◆ Fair value estimated ◆ Dollar callable demand continues
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Investors shrug off squeezy spreads to both swaps and US Treasuries
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◆ Opec Fund grabs record book ◆ NIB hits tight pricing ◆ Tight issuers could run into ‘resistance’
