Posts Tagged ‘ AT1 ’

SEB speeds to $3bn book for $600m AT1 return

May 22nd, 2017

Skandinaviska Enskilda Banken (SEB) took advantage of a strong post-FOMC market to attract some $3bn of demand to a $600m perpetual non-call five Additional Tier 1 on 16 March, its first AT1 transaction in over two years.

SKK1.25bn tranche ‘cherry on cake’ of debut Jyske AT1

Sep 13th, 2016

A debut, dual tranche DKK1.5bn equivalent AT1 for Jyske Bank on 7 September was more than twice oversubscribed, and comprised the first benchmark Swedish krona AT1 from a non-domestic name, with a Jyske official deeming the result a testament to years of work in the Swedish market.

LF Bank in tight Skr1.2bn AT1 debut, SBAB sells krona Tier 2

Jun 5th, 2015

Länsförsäkringar Bank (LF Bank) sold its inaugural Additional Tier 1 issue on Tuesday, a Skr1.2bn (Eu128m) perpetual non-call five issue that achieved tight pricing relative to international markets and also LF’s Swedish peers in the domestic market. Meanwhile, SBAB issued a Skr1bn 10 year non-call five Tier 2.

Weak market stymies DNB $750m AT1, Aktia covered bond due

Mar 20th, 2015
DNB image

DNB hit a weak market when it launched a $750m (Nkr6.12bn, Eu699m) Additional Tier 1 transaction yesterday (Thursday), with the book size and pricing off highs witnessed on recent US dollar Nordic AT1 supply.

SBAB tight to Nordea in Skr1.5bn debut AT1 with biggest buffer

Mar 13th, 2015

SBAB sold its first Additional Tier 1 issuance on Monday, Skr1.5bn (Eu163m) of perpetual non-call five notes split into fixed and floating rate tranches that were priced just 15bp wider than where Nordea last week issued krona AT1.

Nordea gets joint USD coupon low in AT1 trio

Mar 6th, 2015
Nordea image

Nordea launched its second Additional Tier 1 issuance yesterday (Thursday), a multi-currency three tranche package including $500m, Skr2.25bn and Nkr1.25bn pieces for an aggregate of Skr8.15bn (Eu882m) that achieved the joint lowest coupon for an AT1 benchmark.

Nykredit satisfied after issuing Eu500m AT1 debut into busy mart

Feb 20th, 2015
Nykredit image

Nykredit sold a debut Additional Tier 1 transaction yesterday (Thursday), a Eu500m (Dkr3.72bn) 6.25% perpetual non-call 5.7 deal that an official at the Danish issuer said achieved a satisfactory result for an inaugural transaction.

Handelsbanken hits coupon low in AT1 ‘museum piece’

Feb 20th, 2015

Svenska Handelsbanken launched its inaugural Additional Tier 1 (AT1) issue on Wednesday, a $1.2bn (Eu1.05bn, Skr10bn) perpetual non-call six deal that achieved the lowest coupon on a US dollar AT1 and attracted $4.7bn of demand.

Swedbank debuts as Nordics hit finely-poised AT1 en masse

Feb 13th, 2015

Danske and Swedbank this week hit a hectic Additional Tier 1 (AT1) market and Handelsbanken and Nykredit Realkredit mandated debuts in spite of some weakness in the hybrid asset class, while DNB today (Friday) stuck to its domestic market for its first AT1.

Raters expect AT1 supply from strong Nordics

Dec 19th, 2014

Moody’s expects Swedish banks to make early, sizeable issuances of Additional Tier 1 (AT1) instruments, while Standard & Poor’s expects a similar trend across Nordic banks, which it said are pulling away from their European peers in terms of capital strength.