NIB issues $1bn three-year global benchmark

The Nordic Investment Bank has priced a new three-year global $1 billion benchmark issue. The transaction is NIB's first public USD benchmark of the year.

The issue has a final maturity of 1 February 2021, pays a semi-annual coupon of 2.250% and has an issue price of 99.703%, to give a spread of +17.85 bps over the UST 2% due January 2021, equivalent to mid-swaps minus 2 bps.