By Aleesia Forni
Virginia Beach, May 19 – Skandinaviska Enskilda Banken AB priced a $1 billion issue of 2.45% notes due 2020 on Tuesday at Treasuries plus 90 basis points, an informed source said.
The notes (A1/A+/A+) priced at 99.846 to yield 2.483%.
Pricing was wide of initial guidance set in the high-90 bps area over Treasuries.
The bookrunners are BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC.
Proceeds will be used for general corporate purposes.
The financial services company is based in Stockholm.
| Issuer: | Skandinaviska Enskilda Banken AB
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| Amount: | $1 billion
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| Description: | Notes
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| Maturity: | May 27, 2020
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| Bookrunners: | BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC
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| Coupon: | 2.45%
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| Price: | 99.846
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| Yield: | 2.483%
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| Spread: | Treasuries plus 90 bps
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| Trade date: | May 19
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| Ratings: | Moody’s: A1
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| Standard & Poor’s: A+
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| Fitch: A+
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| Price guidance: | Treasuries plus 90 bps, tightened from high-80 bps area
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| Distribution: | Rule 144A, Regulation S
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