By Andrea Heisinger
New York, June 10 - Vestjysk Bank AS priced $500 million of three-year floating-rate notes on Thursday at par to yield three-month Libor plus 55 basis points, a market source away from the sale said.
The sale was announced on Monday and was not intended to price until later in the week, a source said.
The notes (Aaa/AAA/) are non-callable and were sold under Rule 144A. They are guaranteed by the government of Denmark.
Bookrunners were J.P. Morgan Securities and Nordea Bank.
The retail and corporate bank is based in Lemvig, Denmark.
Issuer: | Vestjysk Bank AS
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Issue: | Floating-rate notes
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Guarantor: | Government of Denmark
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Amount: | $500 million
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Maturity: | June 17, 2013
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Bookrunners: | J.P. Morgan Securities, Nordea Bank
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Coupon: | Three-month Libor plus 55 bps
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Price: | Par
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Yield: | Three-month Libor plus 55 bps
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Call: | Non-callable
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Distribution: | Rule 144A
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Trade date: | June 10
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Settlement date: | June 17
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Ratings: | Moody's: Aaa
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| Standard & Poor's: AAA
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