MuniFin Green Finance and Liquidity Portfolio Evaluation
MuniFin
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Appendix 19
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 PacificView entire presentation