Funding and Green Projects Evaluation

MuniFin Copyright MuniFin 46 Appendix 15 5y USD 1.5 billion benchmark . • MuniFin kicked off 2021 with a USD denominated benchmark transaction on 12 January 2021. The bond is a long 5-year USD 1.5 bn note due 20 March 2026. • The joint lead managers were Bank of America, • • . Goldman Sachs, JP Morgan and TD. The final order book was over USD 3.1 billion and the benchmark was MuniFin's largest USD benchmark since 2013. The benchmark was priced at MS+8bps, with central banks and official institutions taking over 40% of the final allocations. Geographically, EMEA took the bulk with 79% of the allocations, supplemented by Americas (16%) and Asia (5%). • The benchmark pays an annual coupon of 0.625%. The spread over the CT5 was 17.78 bps. 41% ■ Banks 3% 8% ■Central Banks / Official Institutions 48% ■Asset managers/Insurance/Pension funds ■ Other 16% 5% 79% ■ EMEA ■ Americas ■ Asia Pacific

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