13 Mar 2025
NIB surpasses EUR 10 billion in total green bond issuance with new EUR 750 million Environmental Bond
On 12 March 2025, the Nordic Investment Bank (NIB) priced a new seven-year, EUR 750 million NIB Environmental Bond (NEB). This latest transaction takes NIB’s total green bond issuance past the EUR 10 billion milestone since its first NEB in 2011, solidifying the Bank’s position in the market and underscoring the robust investor confidence in its environmental mandate.
For the new EUR 750 million NEB issuance, strong investor demand drove the final orderbook above EUR 1.8 billion—more than double the transaction size—allowing NIB to tighten the final spread to mid-swaps plus 31 basis points from the initial guidance of plus 34 basis points. European accounts secured the majority of the allocation.
The new bond pays a semi-annual coupon of 2.875% and was priced at 99.426%, yielding 2.967%. The transaction will settle on 19 March 2025, and the bond will mature on 19 March 2032. The joint lead managers for the transaction were BofA Securities, Crédit Agricole CIB, and SEB.
“The issuance of the new EUR 750 million seven-year NIB Environmental Bond is noteworthy for a multitude of reasons: It marks the crossing of the EUR 10 billion threshold in total green bond issuance for NIB – a milestone that is not only a significant accomplishment for NIB’s capital market activities but also serves as an affirmation of NIB’s dedication to its environmental lending mandate. The robust demand from investors is indicative of their appreciation for this commitment and reflects the resilience associated with the NIB name,” says Kim Skov Jensen, CFO & Head of Treasury & Finance at NIB.
“We are very pleased with the outcome of this bond issue. Despite the markets being somewhat more challenging now than they were at the start of the year, the fact that the order book was oversubscribed by more than two times is a testament to the continued attractiveness of NIB’s green bonds as an investment. Today’s outcome shows that we navigated a challenging market, and we believe that our robust results lend considerable support to the supranational sector, which has recently been at the forefront of a substantial amount of news,” says Jens Hellerup, Head of Funding & Investor Relations at NIB.
“SEB is proud to have participated in NIB’s first EUR Green benchmark of the year. The transaction attracted a diverse range of high-quality orders, allowing the deal to price three basis points tighter than initial guidance and land at MS +31 at fair value — an impressive achievement in these turbulent markets. Once again, NIB has demonstrated its strength as a key market participant, and SEB is delighted to have been part of the team on this successful transaction,” says Anna Sjulander, Head of SSA DCM at SEB.
In accordance with NIB’s Environmental Bond Framework, the use of proceeds from this NEB transaction will be used for financing selected loan projects, which are considered to benefit the environment, a core element in NIB’s mission.
For more information on NIB Environmental Bonds, click here.
Bond summary terms
| Issuer | Nordic Investment Bank (NIB) |
| Rating | Aaa (Moody’s), stable / AAA (S&P), stable |
| Issue amount | EUR 750 million |
| Settlement date | 19 March 2025 (T+5) |
| Maturity date | 19 March 2032 |
| Coupon | 2.875% |
| Issue price | 99.426% |
| Reoffer yield | 2.967% |
| Spread | MS + 31bps |
| Denomination | EUR 1,000 |
| Listing | Nasdaq Helsinki |
| Joint lead managers | BofA Securities, Crédit Agricole CIB, SEB |
| ISIN | XS3028251497 |
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, from leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Jens Hellerup, Head of Funding & Investor Relations, +358 9618 11401,
jens.hellerup@nib.int
Angela Brusas, Director, Funding & Investor Relations, +3589618 11403,
angela.brusas@nib.int
Alexander Ruf, Director, Funding & Investor Relations, +358 9618 11402,
alexander.ruf@nib.int