Record demand as KBN places successful 5-year USD benchmark
On Wednesday 21st May 2025, KBN successfully priced a new USD 1.25 billion benchmark, marking KBN’s third USD transaction in 2025.
23.05.2025
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News
– Another successful benchmark outing in USD for KBN. We are grateful for the solid support KBN continues to see among our global investor base and are delighted to see the trade perform despite some market volatility post pricing. Also, a big thank you for the skillful guidance and commitment from the leads throughout the process, says Thomas Møller, Head of Funding & IR at KBN.
Highlights
- KBN attracted IOIs of over USD 4.1 billion at the European open marking their largest ever IOI Book. Final demand for this deal was over USD 6bn.
- High quality demand from over 112 investors resulted in the final re-offer spread being tightened by 4bps from IPTs and landing inside Fair Value.
- Robust participation from Central Banks / Official Institutions and Banks / Bank Treasuries, taking 55% and 39% of the final allocations respectively.
75 per cent of KBN's USD 11-12bn. funding program for 2025 is now completed.
