By Andrea Heisinger
New York, March 14 - Nordea Bank AB sold $2.75 billion of notes (Aa2/AA-/) in two parts on Wednesday, a market source said.
The $1 billion of 2.25% three-year notes priced at 99.787 to yield 2.324% with a spread of 175 basis points over Treasuries. The tranche sold tighter than guidance in the 185 bps area, the source said.
A $1.75 billion tranche of 3.125% five-year paper sold at 99.926 to yield 3.141% with a spread of Treasuries plus 205 bps. The notes were priced tighter than talk in the 212.5 bps area.
Both tranches are non-callable.
The deal was priced under Rule 144A and Regulation S.
Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC ran the books.
The financial services company is based in Stockholm.
| Issuer: | Nordea Bank AB
|
| Issue: | Notes
|
| Amount: | $2.75 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | March 14
|
| Settlement date: | March 20
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 20, 2015
|
| Coupon: | 2.25%
|
| Price: | 99.787
|
| Yield: | 2.324%
|
| Spread: | Treasuries plus 175 bps
|
| Call: | Non-callable
|
| Price talk: | 185 bps area
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | March 20, 2017
|
| Coupon: | 3.125%
|
| Price: | 99.926
|
| Yield: | 3.141%
|
| Spread: | Treasuries plus 205 bps
|
| Call: | Non-callable
|
| Price talk: | 212.5 bps area
|
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