NIB lists EUR 1 billion Response Bond on Nasdaq Helsinki

Share on facebook
Share on twitter
Share on linkedin
Share on email
NIB issues corona bond
NIB to assist Nordics and Baltics in dealing with the corona crisis. Image: NASDAQ

NIB lists EUR 1 billion Response Bond on Nasdaq Helsinki

NIB issues corona bond
NIB to assist Nordics and Baltics in dealing with the corona crisis. Image: NASDAQ
The Nordic Investment Bank’s (NIB) inaugural EUR 1 billion Response Bond has been listed on NASDAQ Helsinki. The proceeds will help deal with the post-corona recession in the Nordics-Baltics.
Share on facebook
Share on twitter
Share on linkedin
Share on email

NIB’s billion “corona” bond is to raise capital to help the Nordic and Baltic countries cope with the post-lockdown recession. The proceeds from NIB’s transaction will be used to finance the upgrade of the healthcare systems and alleviate frictions in supply chains.

As unanimously predicted by experts, the universal lockdown has quickly turned into a major economic slowdown globally, and Northern Europe is by no means an exception. The region’s largest economy, Sweden, is likely to plunge 3.2 percent this year. Denmark is into a 10 percent dive. Norway’s economy will most likely contract by 3.8 percent, Finland by 1.5–4 percent, Iceland by 4 percent, Latvia by 6.5 percent, Estonia by more than 6 percent, and Lithuania by 3–20 percent.