Chicago, June 14 – Danske Bank A/S priced €1 billion of green non-preferred senior notes with a seven-year tenor (Baa2/BBB+/A) on Wednesday, a market source reported.
The notes priced with a 4.75% coupon at 99.79 to yield 4.791%, or at mid-swaps plus 170 basis points. Alternatively, the notes priced at Bunds plus 236.8 bps.
Initial price talk was in the mid-swaps plus 195 bps area.
The rate will reset if the notes are not called after six years to a one-year mid-swap rate plus a margin.
The notes may be called at par on June 21, 2029.
Barclays, BNP Paribas, Credit Agricole CIB, Danske Bank (billing and delivery) and UBS were the bookrunners for the Regulation S offering.
Listing will be in Ireland.
Danske Bank is a Copenhagen-based bank.
| Issuer: | Danske Bank A/S
|
| Amount: | €1 billion
|
| Issue: | Green non-preferred senior notes
|
| Maturity: | June 21, 2030
|
| Bookrunners: | Barclays, BNP Paribas, Credit Agricole CIB, Danske Bank (billing and delivery) and UBS
|
| Coupon: | 4.75%, resets on June 21, 2019
|
| Price: | 99.79
|
| Yield: | 4.791%
|
| Spread: | Mid-swaps plus 170 bps, or Bunds plus 236.8 bps
|
| Call features: | At par on June 21, 2029
|
| Trade date: | June 14
|
| Settlement date: | June 21
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB+
|
| Fitch: B
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 195 bps area
|
| ISIN: | XS2637421848
|
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