MuniFin Green Finance and Liquidity Portfolio Evaluation
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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 %View entire presentation