By Marisa Wong
Los Angeles, Aug. 19 – Luminor Bank AS priced €300 million of 5% two-year non-callable one-year restricted senior preferred notes (Baa2) at par, according to a London Stock Exchange notice.
The notes priced with a spread of mid-swaps plus 376 basis points. Initial price talk was 25 bps higher.
J.P. Morgan AG, DNB Markets, Erste Group and Luminor Markets are the managers.
The notes will be listed on Euronext Dublin.
The bank is based in Tallinn, Estonia, with branches in Latvia and Lithuania.
| Issuer: | Luminor Bank AS
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| Amount: | €300 million
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| Issue: | Restricted senior preferred notes
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| Maturity: | Two years
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| Managers: | J.P. Morgan AG, DNB Markets, Erste Group and Luminor Markets
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| Coupon: | 5%
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| Price: | Par
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| Yield: | 5%
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| Spread: | Mid-swaps plus 376 bps
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| Call: | Non-callable for one year
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| Pricing date: | Aug. 18
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| Rating: | Moody’s: Baa1
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| Initial price talk: | 25 bps higher
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| Listing: | Euronext Dublin
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