Chicago, Nov. 3 – Danske Bank A/S priced €500 million of 4.5% non-preferred senior green notes due 2028 (Baa2/BBB+/A+), according to a market source regarding the Thursday-pricing deal.
The notes priced at 99.921 to yield 4.522%, or at mid-swaps plus 135 basis points.
They are callable on Nov. 9, 2027. If the notes are not called, the interest rate will reset.
Price talk was mid-swaps plus 165 bps to 170 bps.
Danske Bank (billing and delivery), HSBC, ING, Societe Generale and UniCredit are the joint bookrunners.
The order book was reported at over €3.2 billion.
Proceeds will be used for green purposes.
Danske Bank is a Copenhagen-based bank.
| Issuer: | Danske Bank A/S
|
| Amount: | €500 million
|
| Issue: | Non-preferred senior green notes
|
| Maturity: | Nov. 9, 2028
|
| Bookrunners: | Danske Bank (billing and delivery), HSBC, ING, Societe Generale and UniCredit
|
| Coupon: | 4.5% initial rate, resets if not called on Nov. 9, 2027
|
| Price: | 99.921
|
| Yield: | 4.522%
|
| Spread: | Mid-swaps plus 135 bps
|
| Call features: | Nov. 9, 2027
|
| Trade date: | Nov. 2
|
| Settlement date: | Nov. 9
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB+
|
| Fitch: A+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 165 bps to 170 bps
|
| ISIN: | XS2715918020
|
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