By Paul A. Harris
Portland, Ore., May 26 – Hoist Kredit AB priced a €250 million issue of 3 1/8% 3.5-year notes (Ba2) at par to yield 3.129% on Wednesday, according to a market source.
The yield printed inside of the 3¼% to 3½% yield talk, which had tightened from earlier guidance of 3½% to 3¾%.
Joint bookrunner Danske Bank will bill and deliver. Credit Suisse and Nordea Markets were also joint bookrunners.
The Sweden-based debt restructuring partner to international banks and financial institutions announced the deal earlier in the month in conjunction with the launch of tender offers for its SEK 1 billion of three-month Stibor plus 375 bps senior floating-rate notes due 2016 and €100 million of three-month Euribor plus 375 bps senior floating-rate notes due 2017.
| Issuer: | Hoist Kredit AB
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| Securities: | Senior notes
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| Amount: | €250 million
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| Maturity: | Dec. 9, 2019
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| Bookrunners: | Danske bank (bill and deliver), Credit Suisse, Nordea Markets
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| Coupon: | 3 1/8%
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| Price: | Par
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| Yield: | 3.129%
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| Spread: | 364.1 bps
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| Call: | Non-callable
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| Trade date: | May 25
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| Settlement date: | June 7
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| Rating: | Moody’s: Ba2
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| Format: | Euro medium-term notes program
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| Price talk: | 3¼% to 3½%
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| Marketing: | Roadshow
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