MuniFin Green Finance and Liquidity Portfolio Evaluation
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MuniFin
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58
Appendix 22
3y USD 1 billion Benchmark, 0.375%
• MuniFin priced its first USD denominated benchmark
transaction of 2020 on 23rd June 2020.
7%
•
⚫ The bond is a long 3-year USD 1 bn note due 1st
September 2023 and is MuniFin's ninth benchmark line
to date.
25%
68%
• The joint lead managers were Deutsche Bank, JP
Morgan, RBC and TD.
•
•
•
The benchmark was priced at mid swaps +16 and pays
an annual coupon of 0.375%. The spread over the CT3
was 21.1 bps. The re-offer price was 99.855% and the
re-offer yield was 0.421%.
The final order book was over EUR 2.8 billion and more
than 70 investors placed orders.
⚫ The orderbook was of very high quality. 68% of the
allocations went to Central Banks & Official Institutions,
25% to Banks and 7% to Asset Managers.
■Central Banks / Official Institutions ■ Banks
Asset managers
14%
10%
2%
46%
28%
■ Americas
■Middle East and Africa
■ Europe
■ Asia Pacific
■ NordicsView entire presentation