By Marisa Wong and Cristal Cody
Los Angeles, March 30 – Swedbank AB priced $1.25 billion of senior preferred notes due April 4, 2025 in two tranches on Tuesday, according to a market source.
Swedbank priced $400 million of floating-rate notes at SOFR plus 91 basis points.
The fixed-rate tranche consisted of $850 million of 3.356% notes priced with a spread of 82 bps over Treasuries. Initial price talk was in the Treasuries plus 110 bps area.
Barclays, Citigroup, Goldman Sachs, JPMorgan and RBC are the bookrunners.
Swedbank is a banking group based in Sundbyberg, Sweden.
| Issuer: | Swedbank AB
|
| Amount: | $1.25 billion
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| Issue: | Senior preferred notes
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| Maturity: | April 4, 2025
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| Bookrunners: | Barclays, Citigroup, Goldman Sachs, JPMorgan and RBC
|
| Pricing date: | March 29
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|
|
| Floating tranche
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| Amount: | $400 million
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| Coupon: | SOFR plus 91 bps
|
|
|
| Fixed tranche
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| Amount: | $850 million
|
| Coupon: | 3.356%
|
| Spread: | Treasuries plus 82 bps
|
| Initial price talk: | Treasuries plus 110 bps area
|
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