By Cristal Cody
Chicago, June 8 – Swedbank AB priced $1.25 billion of senior preferred notes as a pair, both with a three-year tenor, on Wednesday, a market source told Prospect News.
The deal included $400 million of floating-rate notes. The coupon will be SOFR plus 138 basis points.
The transaction also had $850 million of 5.472% notes. The notes priced at Treasuries plus 125 bps, 20 bps lower than initial talk in the 145 bps area.
BofA Securities, Citigroup, Goldman Sachs, JPMorgan and Wells Fargo Securities were the bookrunners.
Swedbank is a banking group based in Sundbyberg, Sweden.
| Issuer: | Swedbank AB
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| Amount: | $1.25 billion
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| Issue: | Senior preferred notes
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| Maturity: | June 15, 2026
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| Bookrunners: | BofA Securities, Citigroup, Goldman Sachs, JPMorgan and Wells Fargo Securities
|
| Trade date: | June 7
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|
| Floaters
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| Amount: | $400 million
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| Issue: | Floating-rate senior preferred notes
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| Coupon: | SOFR plus 138 bps
|
|
|
| Fixed-rate notes
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| Amount: | $850 million
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| Issue: | Fixed-rate senior preferred notes
|
| Coupon: | 5.472%
|
| Spread: | Treasuries plus 125 bps
|
| Price talk: | Treasuries plus 145 bps area
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