Sparebanken Vest sets spread for €750 million long five-year green bond

By Rebecca Melvin

Concord, N.H., Oct. 5 – Sparebanken Vest Boligkreditt AS set the final spread for its €750 million long five-year green covered bond (expected rating: Aaa//) at mid-swaps plus 2 basis points, according to a syndicate source on Tuesday.

Pricing was tight to guidance of mid-swaps plus 6 bps area.

Barclays, Commerzbank, DZ Bank, ING and Nordea are joint lead managers and joint bookrunners of the Regulation S deal, with ING acting as sole green bond structuring adviser.

Proceeds are earmarked for eligible green projects. The bonds will be listed on the Luxembourg Stock Exchange and will mature on Nov. 11, 2026.

The issuer is a subsidiary of Sparebanken Vest, a bank based in Bergen, Norway.

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