MuniFin Green Finance and Liquidity Portfolio Evaluation slide image

MuniFin Green Finance and Liquidity Portfolio Evaluation

56 Copyright MuniFin Appendix 20 EUR 500 million 10-year Green bond • • . MuniFin issued its third public Green bond on 6 October 2020. A record 55% allocation was sold to ESG focused investors, highest allocation in MuniFin's Green bonds. The 10-year EUR 500 million benchmark offers a 0% coupon and a spread of 30.7bps over the DBR 08/2030, equivalent to 2 bps over mid-swaps. The mandate of a new 10y 500m Green benchmark was announced at 11.00am London time on Monday 5th of October. • The following morning books were officially opened at 8.00am London time with spread guidance of mid-swaps +5bps which represented minimal new issue concession of 1bp. • • Momentum was strong from the outset and orders built rapidly. By 9.35am London time demand was in excess of EUR 2.7bn and spread was revised by 3bps to ms+2bps, representing a negative new issue concession of 2bps. Insurance/Pension funds 9% Central Banks / Official Institutions 33 % Banks 28 % Other 10 % Americas 8% Despite the negative new issue concession on offer, orders continued to build with final books at 3.35bn. France 9% Asset Managers 30% MuniFin Green bond Germany/Austria/ Switzerland 32 % MuniFin 62 • Green bond was jointly led by Danske Bank, NatWest Markets, Nomura and Nordea. • 106 investors participated in the transaction. Southern Europe 10 % Benelux 10% Nordics 21 %
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