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NIBC extends senior curve with new 6 years benchmark senior unsecured (preferred) transaction

News Release -

Yesterday, NIBC launched a new public benchmark senior preferred transaction with a EUR 500 million deal size. The bond has a fixed rate coupon of 0.875% and a maturity of 6 years. The order book reached well in excess of EUR 2 billion and the high oversubscription allowed NIBC to tighten its issuance spread by 30bps to a final pricing of MS+110bps. Final order book was over EUR 1.8bn made up of 129 investors. Interest for the trade was widespread across Europe with investors from France, Southern Europe and Germany/Austria dominating the book, followed by the Nordics and the Benelux. Most of the bonds were sold to Asset Managers and both Private and Commercial Banks. The syndicate consisted of Credit Suisse, JP Morgan, Goldman Sachs, UBS and our colleagues of NIBC Markets.

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