Funding and Green Projects Evaluation
44
Appendix 13
7y EUR 500 million benchmark
Copyright MuniFin
62
MuniFin
• MuniFin priced its third benchmark transaction of 2021 on
14 April 2021.
• The bond is a 7-year EUR 500 million note due 21 April
2028.
•
The joint lead managers were Danske, LBBW, Morgan
Stanley and Nordea.
• The benchmark was priced at mid swaps -6 bps and pays
an annual coupon of 0%. The spread over the DBR 0.50%
due 15 February 2028 was 30.3bps.
• The final order book stood at EUR 732 million (ex. JLM
orders). A total of 33 investors participated in the
transaction with 86% allocation to European and 14% to
Asian investors. Central banks took the largest 41%
allocation and banks were a close second with 38%
allocation. The final 21% allocation went to asset
managers.
21%
38%
■Central Banks / Official Institutions ■ Banks
11%
7%
11%
14%
15%
■ BeNeLux
■ Asia
■ Nordics
■Germany/Austria
■Central and Eastern Europe
■ France
■Rest of Europe
41%
Asset managers
26%
16%View entire presentation