By Andrea Heisinger
New York, Jan. 11 - Nordea Bank AB sold $2.75 billion of notes (Aa2/AA-/AA-) in three tranches on Tuesday, an informed source said.
A $750 million tranche of 2.125% three-year notes priced at 99.853 to yield 2.176% with a spread of Treasuries plus 120 basis points. The notes came in at the tight end of price guidance in the 125 bps area.
The second tranche was $1 billion of three-year floating-rate notes priced at par to yield three-month Libor plus 90 bps.
A final tranche of $1 billion 4.875% 10-year notes priced at 99.523 to yield 4.936% with a spread of Treasuries plus 160 bps. These notes also priced at the tight end of guidance in the 162.5 bps area, a source said.
All of the notes are non-callable.
Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC were the bookrunners.
The deal was done under Rule 144A.
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
|
| Trade date: | Jan. 11
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Three-year fixed-rate notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 14, 2014
|
| Coupon: | 2.125%
|
| Price: | 99.853
|
| Yield: | 2.176%
|
| Spread: | Treasuries plus 120 bps
|
| Call: | Non-callable
|
| Price talk: | 125 bps area
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Jan. 14, 2014
|
| Coupon: | Three-month Libor plus 90 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 90 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 14, 2014
|
| Coupon: | 4.875%
|
| Price: | 99.523
|
| Yield: | 4.936%
|
| Spread: | Treasuries plus 160 bps
|
| Call: | Non-callable
|
| Price talk: | 162.5 bps area
|
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