By Mary-Katherine Stinson
Lexington, Ky., May 30 – Banco de Sabadell SA priced €750 million of senior preferred green notes with a six-year tenor (BBB/BBB/DBRS: AL) on Tuesday at mid-swaps plus 200 basis points, a market source reported.
Price talk was in the mid-swaps plus 230 bps area.
The securities are non-callable for five years. If they are not called on June 7, 2028, the coupon will reset to the one-year mid-swap rate plus 200 bps.
Banco Sabadell, BofA Securities, Inc., Credit Agricole CIB, Deutsche Bank, HSBC and ING are bookrunners on the Regulation S deal.
The order book was above €1.9 billion.
Full terms were not yet available.
The notes will be listed in Dublin.
The private banking group is based in Spain.
| Issuer: | Banco de Sabadell SA
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| Amount: | €750 million
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| Issue: | Senior preferred green notes
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| Maturity: | June 7, 2029
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| Bookrunners: | Banco Sabadell, BofA Securities, Inc., Credit Agricole CIB, Deutsche Bank, HSBC and ING
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| Price: | 99.521
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| Spread: | Mid-swaps plus 200 bps
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| Call features: | At par on June 7, 2028
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| Trade date: | May 30
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| Settlement date: | June 7
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| Ratings: | S&P: BBB
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| Fitch: BBB
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| DBRS: A (low)
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| Distribution: | Regulation S
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| Price talk: | Mid-swaps plus 230 bps area
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| ISIN: | XS2598331242
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