Chicago, Jan. 3 – Danske Bank A/S priced €1 billion of 4.125% eight-year green notes at 99.345 to yield 4.235% on Tuesday, according to a market source.
The notes priced with a spread to mid-swaps of 125 basis points, or alternatively at Bunds plus 188.3 bps.
Initial price talk was in the mid-swaps plus 145 bps area.
There are seven years of call protection.
Final books on the green bonds went above €1.55 billion, excluding joint lead manager interest.
Commerzbank, Danske Bank, HSBC, ING, Santander and Societe Generale are listed as joint bookrunners.
The offering included another tranche, €1 billion of four-year conventional bonds.
Danske Bank is a Copenhagen-based bank.
| Issuer: | Danske Bank A/S
|
| Amount: | €1 billion
|
| Issue: | Green notes
|
| Maturity: | Jan. 10, 2031
|
| Bookrunners: | Commerzbank, Danske Bank, HSBC, ING, Santander and Societe Generale
|
| Coupon: | 4.125%
|
| Price: | 99.345
|
| Yield: | 4.235%
|
| Spread: | Mid-swaps plus 125 bps, or Bunds plus 188.3 bps
|
| Call features: | Seven years
|
| Trade date: | Jan. 3
|
| Settlement date: | Jan. 10
|
| Ratings: | Moody’s: A3
|
| S&P: A+
|
| Fitch: A+
|
| Price talk: | Mid-swaps plus 145 bps area
|
| Distribution: | Regulation S
|
| ISIN: | XS2573569576
|
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