By Wendy Van Sickle
Columbus, Ohio, Dec. 21 – NOBA Bank Group AB sold €40 million of tier 2 10.25-year floating-rate bonds with a coupon of Euribor plus 700 basis points in a private placement, according to an announcement.
The bonds have a first possible call date after five years.
Nordea was the lead arranger and structuring adviser.
The bonds will be listed on Nasdaq Stockholm. The expected settlement date is Jan. 18.
NOBA is a niche bank that specializes in consumer loans and credit cards in the Nordic region, Germany and Spain, non-standard mortgage loans in Sweden and Norway and equity-release mortgages in Sweden.
| Issuer: | NOBA Bank Group AB
|
| Amount: | €40 million
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| Issue: | Tier 2 floating-rate bonds
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| Tenor: | 10.25 years
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| Lead arranger: | Nordea
|
| Coupon: | Euribor plus 700 bps
|
| Call protection: | Five years
|
| Announcement date: | Dec. 21
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| Settlement date: | Jan. 18
|
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