Chicago, Aug. 25 – Svenska Handelsbanken AB priced a €750 million offering of 2.625% green senior preferred notes with a seven-year tenor (Aa2/AA-/AA+) on Thursday, according to a market source.
The notes priced at 99.358 to yield 2.272%, or at a 65 basis points spread to mid-swaps.
When books opened on Thursday morning, initial price talk was in the 85 bps area over mid-swaps.
The final orderbook was in excess of €2.6 billion.
The joint lead managers for the Regulation S offering are Barclays, BNP Paribas, HSBC (billing and delivery), Morgan Stanley and Svenska Handelsbanken.
Proceeds will be used for green purposes.
The notes will be listed on Euronext Dublin.
The Swedish bank is based in Stockholm.
| Issuer: | Svenska Handelsbanken AB
|
| Amount: | €750 million
|
| Issue: | Green senior preferred notes
|
| Maturity: | Sept. 5, 2029
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| Bookrunners: | Barclays, BNP Paribas, HSBC (billing and delivery), Morgan Stanley and Svenska Handelsbanken
|
| Coupon: | 2.625%
|
| Price: | 99.358
|
| Yield: | 2.272%
|
| Spread: | Mid-swaps plus 65 bps
|
| Trade date: | Aug. 25
|
| Settlement date: | Sept. 5
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Fitch: AA+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 85 bps area
|
| ISIN: | XS2527451905
|
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