Nordea strengthens its capital ratio at record low interest
(Thomson Reuters ONE) - Nordea Bank AB has issued a USD-denominated Tier 1 hybrid instrumentof USD 1bn, priced at a coupon of 8.375% (which approximatelycorresponds to Euro Libor plus five per cent). The transaction wassignificantly oversubscribed with orders reaching USD 5bn allowingNordea to price the transaction below the initial coupon guidance of8.5-8.75%.Christian Clausen, CEO of Nordea Bank AB, comments the issuing:- We are delighted with the overwhelming interest that globalinvestors have shown in Nordea in this transaction. This transactionwas priced with the lowest coupon of any public market Tier 1 capitalissue in the past 12 months, which demonstrates investors' strongconfidence in Nordea.Nordea's Tier 1 capital ratio as of end June 2009 was 11.2%, and thecore Tier 1 capital ratio was 10.3%. The transaction contributes toNordea's operational flexibility by further strengthening Nordea'sTier 1 ratio. Nordea maintains a low degree of hybrid capitalrelative to core capital.BofA Merrill Lynch, Credit Suisse, Goldman Sachs International andHSBC acted as joint bookrunners of the Tier 1 issue. Nordea CapitalMarkets and BNP Paribas have acted as senior co-managers.For further information:Fredrik Rystedt, Chief Financial Officer, +46 8 614 7812Johan Ekwall, Head of Investor Relations, +46 8 614 7852http://hugin.info/1151/R/1341680/320973.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 16.09.2009 - 13:47 Uhr
Sprache: Deutsch
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