NIB issues inaugural Sustainability-Linked Loans financing Bond (SLLB) as first SSA issuer

• The Nordic Investment Bank (NIB) has issued its inaugural Sustainability-Linked Loans financing Bond (SLLB), becoming the first supranational, sovereign and agency (SSA) issuer to launch such an instrument in the global capital markets.
• The SEK 1.75 billion 5-year bond, backed by strong domestic investor demand, will finance exclusively NIB-financed sustainability-linked loans aligned with science-based emission reduction climate targets.
• The issuance follows the release of NIB's newly established SLLB Framework and second opinion.

The new bond is issued under NIB's recently established SLLB Framework, launched on 10 September 2025, which received a positive second opinion from S&P Global Ratings.

The structure of NIB's SLLBs support NIB's customers' climate transition journey and aim to further promote sustainability performance-driven lending and high-quality standards in the sustainable finance markets. Proceeds are exclusively allocated to financing and refinancing a portfolio of sustainability-linked loans (SLLs) tied to science-based emission reduction climate targets.

Kim Skov Jensen, CFO & Vice President at NIB, says:

"The new SLLB Framework strengthens NIB's ability to finance corporate sustainability transitions - not just specific projects, but entire business models. With this trade, NIB became the first SSA issuer to utilise the Guidelines for Sustainability-Linked Loans financing Bonds from ICMA, underscoring our role in advancing innovative approaches within the sustainable finance market."

Angela Brusas, Director, Funding & Investor Relations at NIB, says:

"We're proud to launch NIB's inaugural SLLB, the result of extensive work co-coordinating the ICMA Guidelines and developing our framework. Swedish investors, long supportive of sustainable finance, were a natural first audience."

The transaction attracted robust interest from high-quality accounts, with asset managers taking the majority of allocations. A strong orderbook allowed the deal to be upsized from a minimum SEK 1 billion to SEK 1.75 billion.

The 5-year bond carries a coupon of 2.503% and was priced with a spread of SEK MS+21bps. Nordea and SEB acted as joint lead managers.

Marcus Viitamäki, Head of SSA DCM at Nordea, says:

"NIB is a leader in sustainability and this landmark trade showcases that once again. The SLLB offers investors exposure to companies committed to a 1.5-degree aligned pathway. We congratulate NIB on this pioneering product."

Anna Sjulander, Head of SSA DCM at SEB, says:

"The SEK 1.75 billion SLLB attracted strong demand, underscoring both NIB's solid position in the Swedish market and the rising appetite for high-quality sustainable investments. SEB is proud to have acted as joint lead manager."

The orderbook saw strong participation from domestic high-quality accounts in Sweden including AP7, Nordea Asset Management, Swedbank Robur Fonder, LF Västernorrland and LF Östgöta.

Jerk Matero, Head of Fixed Income Sweden at Nordea Asset Management, says:

"We are very pleased to support NIB in accelerating corporate sustainability transition by participating in their inaugural SLLB. This new framework directs capital towards companies and sectors undergoing transition and we believe that this will create incentives for broader corporate level sustainability efforts."

With this issuance, NIB further strengthens its role as a market leader in developing new sustainable finance products, supporting borrowers' transition journeys while setting high standards for performance-driven lending.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances sustainable private and public projects in and outside the member countries and has the highest possible credit rating, AAA/Aaa, from leading agencies S&P and Moody's.

For further information, please contact:

Jens Hellerup, Senior Director, Head of Funding & Investor Relations

+358 9618 11401 | [email protected]

Angela Brusas, Director, Funding & Investor Relations

+358 9618 11403 | [email protected]

Alexander Ruf, Director, Funding & Investor Relations

+358 9618 11402 | [email protected]