Nordea has strengthened its capital base by issuing primary capital to a value of 1.5 billion dollars, according to a press release.
$ 1 billion consists of a perpetual loan with an option to buy back after 5 years and $ 500 million consists of perpetual loan with an option to buy back after ten years.
Coupon The interest amounts to 5.5 percent and 6.125 percent, the lowest levels for equivalent instruments issued in dollars.
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“To successfully issue new equity instruments are part of Nordea’s long term planning and is in line with what the bank announced earlier,” writes the bank.
The issue raises Nordea’s core capital ratio by 75 basis points to 17 percent.
Bank of America Merrill Lynch, Goldman Sachs, Citi and UBS acts as an advisor in the transaction.
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