By Andrea Heisinger
New York, March 26 - Svenska Handelsbanken AB priced $1.6 billion of notes (Aa2/AA-/AA-) in two tranches late on Friday via Rule 144A, a market source said.
The company reopened a tranche of 4.875% notes due June 10, 2014 to add $600 million. The notes priced at 105.985 to yield 3.332% with a spread of Treasuries plus 78 basis points.
Total issuance for the notes is $1.85 billion, including $1.25 billion issued on June 10, 2009 at Treasuries plus 250 bps.
A $1 billion tranche of 5.125% 10-year notes priced at 99.598 to yield 5.177%, or 133 bps over Treasuries.
Both tranches are non-callable.
Bookrunners were Bank of America Merrill Lynch and Citigroup Global Markets for the notes due 2014 and Bank of America Merrill Lynch, Citigroup and J.P. Morgan Securities for the 10-year notes.
The bank is based in Stockholm.
| Issuer: | Svenska Handelsbanken AB
|
| Issue: | Notes
|
| Amount: | $1.6 billion
|
| Distribution: | Rule 144A
|
| Trade date: | March 26
|
| Settlement date: | March 31
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Notes due 2014
|
| Amount: | $600 million, reopened
|
| Maturity: | June 10, 2014
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets
|
| Coupon: | 4.875%
|
| Price: | 105.985
|
| Yield: | 3.332%
|
| Spread: | Treasuries plus 78 bps
|
| Call: | Non-callable
|
| Total issuance: | $1.85 billion, including $1.25 billion issued June 10, 2009
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | March 30, 2020
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup, J.P. Morgan Securities
|
| Coupon: | 5.125%
|
| Price: | 99.598
|
| Yield: | 5.177%
|
| Spread: | Treasuries plus 133 bps
|
| Call: | Non-callable
|
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