By Cristal Cody
Chicago, Feb. 27 – Danske Bank A/S priced $2.25 billion of notes in two parts on Monday, according to a market source.
The deal includes $1 billion of 5.427% notes with a four-year tenor. Pricing at Treasuries plus 95 basis points, the notes came in 25 bps below talk in the 120 bps area.
The second tranche priced as $1.25 billion of 5.705% six-year notes. The spread priced as 140 bps over Treasuries versus talk in the 170 bps area.
Both tranches become callable one year before maturity.
Danske Bank, BofA Securities, Citigroup, JPMorgan, Mizuho and RBC were bookrunners.
Danske Bank is a Copenhagen-based bank.
| Issuer: | Danske Bank A/S
|
| Amount: | $2.25 billion
|
| Issue: | Notes
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| Bookrunners: | Danske Bank, BofA Securities, Citigroup, JPMorgan, Mizuho and RBC
|
| Trade date: | Feb. 26
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| Four-year notes
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| Amount: | $1 billion
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| Maturity: | March 1, 2028
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| Coupon: | 5.427%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Non-callable for three years
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| Price talk: | Treasuries plus 120 bps area
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|
| Six-year notes
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| Amount: | $1.25 billion
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| Maturity: | March 1, 2030
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| Coupon: | 5.705%
|
| Spread: | Treasuries plus 140 bps
|
| Call: | Non-callable for five years
|
| Price talk: | Treasuries plus 170 bps area
|
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