Regulatory releases

Buyback of Notes under NIB’s Programme for the Issuance of Debt Instruments

Nordic Investment Bank has for value 7 February 2024 bought back 100 per cent of its outstanding USD 10,000,000 5.00 per cent. Instruments due 2031, ISIN XS2684957546.

Following the redemption, the Instruments will be cancelled and removed from the official list of Nasdaq Helsinki Oy.

Released 7 February 2024 at 14.19 EET

Buyback of Notes under NIB’s Programme for the Issuance of Debt Instruments

Nordic Investment Bank has for value 17 October 2023 bought back DKK 400,000,000 of its DKK 1,000,000,000 0.375 per cent. Notes due 2039, ISIN XS2020698515. The Notes are listed on Nasdaq Copenhagen A/S.

The purchased Notes will be cancelled, reducing the outstanding principal amount to DKK 600,000,000.

Released 16 October 2023 at 16.30 EET

Notice to the holders of USD 75,000,000 STEEPENER NOTES DUE 2038 (XS1862512537)

Notice is hereby given by the Issuer to the holders of the Notes that, pursuant to the terms and conditions of the Notes, the pricing supplement dated 8 August 2018 in respect of the Notes was amended and restated as set forth in the Schedule hereto on 1 August 2023.

All terms and expressions used but not defined in this notice shall have the meanings attributed to them in the terms and conditions of the Notes. The Notes are listed on the London Stock Exchange.

Released 2 August 2023 at 11.00 GMT

Buyback of Notes under NIB’s Programme for the Issuance of Debt Instruments

Nordic Investment Bank has for value 16 March 2023 bought back SEK 640,000,000 of its SEK 3,000,000,000 1.375 per cent. Notes due 2028, ISIN XS1760125523. The Notes are listed on the London Stock Exchange.

The purchased Notes will be cancelled, reducing the outstanding principal amount to SEK 2,360,000,000.

Released 16 March 2023 at 15:57 EET

NIB chooses Luxembourg as new home Member State for Transparency Directive

Notice of election of home Member State under the European Transparency Directive

The Nordic Investment Bank (NIB) hereby gives notice that it has chosen Luxembourg to be its new home Member State for the purposes of Directive 2004/109/EC of the European Parliament and of the Council (the “Transparency Directive”) pursuant to Article 2(1)(i)(ii). NIB has notified this election to the Commission de Surveillance du Secteur Financier being the competent authority in terms of the Luxembourg Transparency Law of 11 January 2008 on transparency requirements for issuers whose securities are admitted to trading on a regulated market. NIB is as a public international body of which at least one EU Member State is a member, pursuant to article 7(1)a of the Luxembourg Transparency Law exempted from the obligations of articles 3 and 4 regarding annual and half yearly financial reports.

Released 23 February 2021 at 15:47 EET

NIB’s updated Statutes enter into force on 29 July

The Nordic and Baltic owner countries of the Nordic Investment Bank (NIB) have approved amendments to update the Bank’s Statutes to ensure continued adherence with sound banking principles. The changes will enter into force on 29 July 2020.

The banking industry has undergone significant changes since the last financial crisis in terms of capital and risk management and regulatory oversight. In order to adapt NIB to these developments and to secure its strong position for the future, the owner countries have updated the Bank’s Statutes.

The statutory changes expand NIB’s financing capabilities and ensure efficient control of its operations. The more agile framework increases NIB’s flexibility and allows for more efficient allocation of financing to projects that improve productivity and benefit the environment.

Sound and comprehensive policies for capital and risk management ensure bondholders that NIB also in the future will maintain the highest possible issuer credit rating and obtain funds from the capital markets on advantageous terms, which is essential for the implementation of the mandate.

The approved changes to the Statutes include:

Replacing the current statutory gearing limit with a risk-based comprehensive framework for capital and liquidity management in accordance with sound banking principles and introducing minimum requirements for capital, liquidity and leverage.
Discontinuing the special loan facilities for Project Investment Loans (PIL) and Environmental Investment Loans (MIL). The outstanding amounts under the PIL and MIL facilities, as well as new lending of this type, will become part of NIB’s ordinary lending.
Improving institutional governance, clarifying the role of the Bank’s Control Committee and the external auditors and strengthening the role of the Chairmanship of the Control Committee.
Allowing for equity participations as a new form of financing for the Bank in addition to loans and guarantees. However, this would require a unanimous pre-approval of the Board of Directors and is subject to limits based on available capital.

The Agreement on NIB dated 11 February 2004 and the Amending Agreement dated 28 February 2020, with the amended Statutes annexed, are available here.

You can read about the changes here.

In addition, more comprehensive provisions regarding the capital and liquidity management have been included in a new document “Principles for Capital and Liquidity Management”. The Principles will provide a tool for NIB’s owners through the Board of Governors, to fine tune the capital and liquidity management framework and limits introduced in the Statutes. The Board of Governors consists of ministers of finance, industry, business and economic affairs in NIB’s Nordic and Baltic owner countries.

“We seek to strengthen NIB in achieving its mandate and efficient use of capital while supporting its highest possible triple-A credit rating. This is especially important now given the challenges caused by the unprecedented COVID-19 crisis. With the statutory changes, we are confident the Bank will continue to be relevant and deliver impact that increases sustainability and prosperity of the Nordic-Baltic region,” says Vilius Šapoka, Minister of Finance of Lithuania and the Chairman of NIB’s Board of Governors.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Mr Henrik Normann, President & CEO, at +358 10 618 001, info@nib.int

Mr Jukka Ahonen, Senior Director, Head of Communications, at +358 10 618 0295, jukka.ahonen@nib.int

Released on 09 July 2020 at 11:00 EET

Nordic Investment Bank (NIB) – increase of EMTN programme amount

NIB has authorised an increase of the principal amount of its Programme for the Issuance of Debt Instruments (the “EMTN Programme”) from EUR 15,000,000,000 to EUR 20,000,000,000, outstanding at any one time – with effect from 6 April 2020.

Released 8 April 2020 at 10:00 EET

Nordic and Baltic ministers approve NIB’s 2018 results and changes to Statutes

At its annual meeting on 24 May 2019, the Nordic Investment Bank’s Board of Governors approved the Bank’s annual accounts for 2018, and the payment of EUR 40 million as dividends to the member countries. The Board, which consists of ministers of finance, industry, business and economic affairs in NIB’s Nordic and Baltic owner countries also approved amendments to NIB’s Statutes, subject to the required national procedures.

Strong demand for long-term loans in NIB’s member countries continued in 2018, with NIB disbursing a total of EUR 4,047 million in loans: the highest volume in its history. The Bank’s lending activity benefited from a favourable investment climate in the member countries. The demand was particularly strong for financing projects that improve productivity. NIB also financed a substantial number of projects contributing to environmental benefits. The Board decided that of the EUR 173 million recorded as profit for the year, EUR 40 million will be paid out as dividends to the member countries.

“I see the NIB in a good position to meet the challenges of the future. NIB has been able to retain its relevance as a long-term lender in the member countries. The Bank’s growth during the last three years has surpassed the average GDP growth, however, it varied significantly within the Nordic-Baltic region,” says Jānis Reirs, Latvia’s Minister of Finance and Chair of the Bank’s Board of Governors.

The Board of Governors also approved amendments to the Statutes of NIB, which will be submitted to undergo the required national procedures.

The intent of the amendments is to modernise NIB’s Statutes and to ensure continued adherence with sound banking principles. The proposed changes consist of:

Replacing the current statutory gearing limit with a risk-based comprehensive framework for capital and liquidity management in accordance with sound banking principles, and introducing minimum requirements for capital, liquidity and leverage.
Discontinuing the special loan facilities for Project Investment Loans (PIL) and Environmental Investment Loans (MIL). The outstanding amounts under the PIL and MIL facilities, as well as new lending of this type, would become part of NIB’s ordinary lending.
Improving institutional governance, clarifying the role of the Control Committee and the external auditors and strengthening the role of the Chairmanship of the Bank’s Control Committee.
With the unanimous pre-approval of the Board of Directors allowing for equity participations as a new form of financing for the Bank in addition to loans and guarantees.

For details, please read more about the proposed changes here.

In addition, more comprehensive provisions regarding capital and liquidity management would be included in a new document “Principles for Capital and Liquidity Management” approved by the Board of Governors. The Principles would provide a tool for NIB’s owners through the Board of Governors, to fine tune the capital and liquidity management framework and limits introduced in the Statutes.

“The changes to the NIB Statutes represent implementation of improved management framework. The modernisation of the Statutes will further strengthen NIB to be more relevant in its activities, and thereby add more value to all stakeholders, be more effective in achieving the NIB mandate and would allow more efficient use of capital while supporting the highest possible AAA credit rating of the Bank,” says Jānis Reirs, Latvia’s Minister of Finance and Chair of the Bank’s Board of Governors.

The Board of Governors appointed Bjarni Benediktsson, Minister of Finance of Iceland and the Governor for Iceland, as its Chair for the period 1 June 2019 to 31 May 2020.

http://www.rns-pdf.londonstockexchange.com/rns/2147A_1-2019-5-27.pdf

For further information, please contact Mr Henrik Normann, President & CEO, at +358 10 618 001, info@nib.int

Mr Jukka Ahonen, Senior Director, Head of Communications, at +358 10 618 0295, jukka.ahonen@nib.int

Released on 28 May 2019 at 07:00

Buy back of Notes issued under NIB’s Programme for the Issuance of Debt Instruments

The Nordic Investment Bank has for value 10 September 2018 bought back BRL 65,590,000 of its BRL 150,000,000 Zero Coupon Notes due 17 September 2023, ISIN No. XS0969741593, Common Code 096974159. The Notes are listed on the London Stock Exchange.

The purchased Notes will be cancelled, reducing the outstanding principal amount to BRL 84,410,000.

Released on 7 September 2018 at 10:42 EET

Buy back of Notes issued under NIB’s Programme for the Issuance of Debt Instruments

The Nordic Investment Bank has for value 2 November 2017 bought back GBP 16,900,000 of its GBP 150,000,000 5.20 per cent. Notes due 7 June 2032, ISIN No. XS0125851286, Common Code 12585128. The Notes are listed on the London Stock Exchange.

The purchased Notes will be cancelled, reducing the outstanding principal amount to GBP 27,260,000.

Released on 30 October 2017 at 16:35 EET

Buy back of Notes issued under NIB’s Global USD Medium-Term Note Program, Series C

The Nordic Investment Bank has bought back JPY 5,000,000,000 of its JPY 50,000,000,000 1.70 % Notes due April 27, 2017, ISIN No. US65562QAG01, Common Code 029826323 on August 12, 2011. The Notes are listed on the Luxembourg Stock Exchange.

The purchased Notes will be cancelled, reducing the outstanding principal amount to JPY 45,000,000,000.

Released on 10 August 2011 at 11:39 EET.

Member countries increase NIB’s capital base

The Board of Governors of the Nordic Investment Bank has decided to increase the Bank’s authorised capital by EUR 2 billion. The capital increase will be allocated to the callable, unpaid portion of the authorised capital stock. Following the subscription, the Bank’s authorised capital will amount to EUR 6,142 million (currently EUR 4,142 million).
The capital increase and related amendments to the Statutes will enter into force once the necessary national procedures in the member countries have been completed. A table showing NIB’s capital structure after the new subscription can be found here.
As a result of this capital increase, the Bank is expected to further enhance its focus on activities supporting its mandate.

The next assessment of the Bank’s capital requirement is scheduled for 2015.

Released on 28 June 2010 at 13:20 EET.

NIB chooses United Kingdom as Home State for Transparency Directive

NIB has chosen the United Kingdom as its Home State for the purposes of the Transparency Directive (2004/109/EC). The Bank has notified the UK Financial Services Authority (FSA) of its election.

NIB belongs to the category of issuers (public international body with at least one EU member state as a member) who are exempted from many of the key provisions of the Directive, such as the periodic reporting requirements.

A limited number of the Transparency Directive obligations do, however, apply to NIB. For that purpose and in order to be able to make any necessary announcements to the market, the Bank has entered into an agreement with Hugin, which is an approved Regulatory Information Service provider in the UK.

Notice of Election of Home State

The Nordic Investment Bank hereby gives notice pursuant to Rule 6.4.2R of the Disclosure and Transparency Rules of the United Kingdom Financial Services Authority that it has chosen the United Kingdom as its Home State in accordance with Article 2(1)(ii) of Directive 2004/109/EC (the “Transparency Directive”). The contents of this notice constitute regulated information. Words and expressions used in this notice have the meanings given to them by the Disclosure and Transparency Rules unless the context requires otherwise.

Released on 11 December 2008 at 13:45 EET.