SEB issues Additional Tier 1 Capital
(Thomson Reuters ONE) -
SEB issues Additional Tier 1 Capital (AT1) to refinance an old similar
instrument that reaches its call date later this year and to optimize its
capital structure. The USD 600 million issuance has a coupon of 5.625 per cent
and an issue price of 100 per cent.
The loan has no final maturity but entail a possibility for the bank to redeem
the loan after 5 years, and any time thereafter. The issuance is in the form of
a debt instrument with automatically conversion into Class A-shares if the CET1
ratio of the bank decreases to a certain level.
The issuance of the new AT1 is part of SEB's capital planning and in line with
what the bank has previously communicated. The transaction has, at an attractive
coupon level, demonstrated the strength of SEB in the international capital
markets with an aggregate demand from investors of approximately USD 3bn.
The issuance will be subscribed by and allotted to the joint lead managers.
Settlement date is 23 March 2017. The instruments will be listed on the Global
Exchange Market regulated by the Irish Stock Exchange.
For further information, please contact
Jonas Söderberg, Head of Investor Relations
+46 8-763 83 19; +4673-521 02 66
jonas.soderberg(at)seb.se
Viveka Hirdman-Ryrberg, Head of Corporate Communication
+46 8-763 85 77; +46 70-550 35 00
Viveka.hirdman-ryrberg(at)seb.se
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| This is information that Skandinaviska Enskilda Banken AB (publ.) is obliged |
|to make public pursuant to the EU Market Abuse Regulation. The information was|
| submitted for publication, through the agency of the contact persons set out |
| above, at 18.00 CET, on 17 March, 2017. |
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SEB is a leading Nordic financial services group with a strong belief that
entrepreneurial minds and innovative companies are key in creating a better
world. SEB takes a long term perspective and supports its customers in good
times and bad. In Sweden and the Baltic countries, SEB offers financial
advice and a wide range of financial services. In Denmark, Finland, Norway and
Germany the bank's operations have a strong focus on corporate and investment
banking based on a full-service offering to corporate and institutional
clients. The international nature of SEB's business is reflected in its
presence in some 20 countries worldwide. At 31 December 2016, the Group's
total assets amounted to SEK 2,621 billion while its assets under management
totalled SEK 1,781 billion. The Group has around 15,300 employees. Read more
about SEB at www.sebgroup.com
Press release (PDF):
http://hugin.info/1208/R/2088788/788481.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SEB via GlobeNewswire
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Datum: 17.03.2017 - 18:00 Uhr
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