By Cristal Cody
Chicago, March 29 – Danske Bank A/S sold $2 billion of notes on Monday, a market source told Prospect News.
The bank priced $750 million of 3.773% three-year notes in a first tranche at a spread of Treasuries plus 145 basis points, 25 bps lower than talk in the Treasuries plus 170 bps area.
The second, larger tranche priced out as $1.25 billion of 4.298% six-year notes with a Treasuries plus 175 bps spread. Pricing came 25 bps lower than talk in the 200 bps area.
The three-year notes come with two years of call protection, and the six-year notes have five years of call protection.
BofA, Citigroup, Danske Markets, Goldman Sachs, Mizuho and TD Securities are the bookrunners.
Danske Bank is a Copenhagen-based bank.
| Issuer: | Danske Bank A/S
|
| Amount: | $2 billion
|
| Issue: | Notes
|
| Bookrunners: | BofA, Citigroup, Danske Markets, Goldman Sachs, Mizuho and TD Securities
|
| Pricing date: | March 28
|
|
|
| 2025 notes
|
| Amount: | $750 million
|
| Maturity: | March 28, 2025
|
| Coupon: | 3.773%
|
| Spread: | Treasuries plus 145 bps
|
| Call: | Two years
|
| Talk: | Treasuries plus 170 bps area
|
|
|
| 2028 notes
|
| Amount: | $1.25 billion
|
| Maturity: | April 1, 2028
|
| Coupon: | 4.298%
|
| Spread: | Treasuries plus 175 bps
|
| Call: | Five years
|
| Talk: | Treasuries plus 200 bps area
|
|
|
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