On June 4, Eksportfinans successfully launched and priced a €1bn 5-year Euro benchmark transaction. This represents Eksportfinans’ second Euro benchmark this year. Credit Suisse, Goldman Sachs and Nomura were joint-lead managers on the transaction.
The mandate was announced to the market on Monday June 2, after good indications from relevant investors. It was very well received in the market, and the order book reached €800 million by Tuesday evening. The transaction successfully priced at Euribor + 17 bps, which was within expected pricing indications.
Final investor distribution showed robust demand from the central bank community globally, with Asia taking close to 40 percent of the transaction. Investor distribution was:
Central bank: 41%
Bank: 19%
Asset manager: 18%
Pension & Insurance: 13, 5%
Other: 8,5%
Geographic distribution was as follows:
Europe: 46, 5%
Asia: 37, 5%
Middle East: 7, 5%
Other: 8,5%
For more information please contact Director of Treasury Oliver Siem at +47 22 01 22 01.
Please follow this link to read more on the transaction in Euroweek