By Cristal Cody
Tupelo, Miss., Aug. 25 – Skandinaviska Enskilda Banken AB priced $2 billion of senior notes (Aa2/A+/AA-) in three tranches on Tuesday, according to a market source.
The group sold $400 million of three-year floating-rate notes at Libor plus 32 basis points.
A $1 billion offering of 0.55% three-year fixed-rate notes priced at a spread of Treasuries plus 38 bps.
Initial price talk was in the Treasuries plus 60 bps area.
Skandinaviska Enskilda Banken sold $600 million of 0.85% five-year notes with a 58 bps over Treasuries spread.
The tranche was talked at the 80 bps over Treasuries area.
BofA Securities, Inc., Barclays, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Skandinaviska Enskilda Banken were the bookrunners.
Skandinaviska Enskilda Banken is a Swedish financial group based in Stockholm.
| Issuer: | Skandinaviska Enskilda Banken AB
|
| Amount: | $2 billion
|
| Description: | Senior notes
|
| Bookrunners: | BofA Securities, Inc., Barclays, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Skandinaviska Enskilda Banken
|
| Trade date: | Aug. 25
|
| Ratings: | Moody’s: Aa2
|
| S&P: A+
|
| Fitch: AA-
|
|
|
| Three-year floaters
|
| Amount: | $400 million
|
| Maturity: | Sept. 1, 2023
|
| Coupon: | Libor plus 32 bps
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 1, 2023
|
| Coupon: | 0.55%
|
| Spread: | Treasuries plus 38 bps
|
| Price guidance: | Treasuries plus 60 bps area
|
|
|
| Five-year notes
|
| Amount: | $600 million
|
| Maturity: | Sept. 2, 2025
|
| Coupon: | 0.85%
|
| Spread: | Treasuries plus 58 bps
|
| Price guidance: | Treasuries plus 80 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
