Danske Bank priced a Sfr150m 12 year non-call seven Tier 2 issue on Monday in a follow-up to a Nordic-targeted “Trekroner” subordinated debt sale last week, and in line with stated plans to explore Tier 2 issuance in European currencies.

Danske Bank sold Dkr5.55bn (Eu744m, $1.01bn) equivalent of Tier 2 capital across five local Nordic currency transactions in fixed and floating rate format on Tuesday, which an official at the issuer said was an “impressive” size that reflected positively on the depth of its local markets.