Chicago, Feb. 9 – DNB Bank ASA priced €1 billion of green senior non-preferred notes with a four-year tenor (A3/A), according to a market source.
The notes priced with a 3.625% coupon at 99.735 to yield 3.72%, or at Bunds plus 132.2 basis points. Alternatively, the notes priced at mid-swaps plus 63 bps.
Initial price talk was in the mid-swaps plus 90 bps area.
The initial fixed rate converts to a floating rate on Feb. 16, 2026.
The notes are callable at par on Feb. 16, 2026.
BNP Paribas, Citi, DNB Markets, HSBC and ING are the bookrunners.
Final book size was at €2.9 billion at the final terms.
Proceeds will be used for eligible green projects.
The notes will be listed in Dublin.
The financial services company is based in Oslo.
| Issuer: | DNB Bank ASA
|
| Amount: | €1 billion
|
| Issue: | Green senior non-preferred notes
|
| Maturity: | Feb. 16, 2027
|
| Bookrunners: | BNP Paribas, Citi, DNB Markets, HSBC and ING
|
| Coupon: | 3.625% initial rate, converts in final year to floating rate
|
| Price: | 99.735
|
| Yield: | 3.72%
|
| Spread: | Bunds plus 132.2 bps
|
| Call features: | At par on Feb. 16, 2026
|
| Trade date: | Feb. 9
|
| Settlement date: | Feb. 16
|
| Ratings: | Moody’s: A3
|
| S&P: A
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 90 bps area
|
| ISIN: | XS2588099478
|
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