Posts Tagged ‘ Tier 2 ’

Jyske in possible senior finale after T2 capital high

Jun 8th, 2017

Jyske returned to the senior unsecured market for possibly the last time on 23 May after in March selling its biggest capital trade, a four times covered Eu300m 12 year non-call seven Tier 2 that investors welcomed as a rare opportunity to buy a yieldy euro trade from the Dane.

Jyske Bank builds in Sweden with SEK1bn Tier 2 return

May 13th, 2016

Denmark’s Jyske Bank sold its first subordinated debt transaction in 10 years yesterday (Thursday), a SEK1bn (€108m, DKK801m) 10NC5 Tier 2 issue, opting for the Swedish krona market because of the flexibility it offers, according to the group’s head of debt IR and capital markets funding.

Nykredit Realkredit sells Eu800m Tier 2 into reopened market

Nov 13th, 2015
Nykredit image

Nykredit Realkredit attracted more than Eu2bn of demand for a Eu800m 12 year non-call seven Tier 2 issue on Tuesday, taking advantage of the reopening of the subordinated debt market after having announced its third quarter results last week.

Nordea blowout reopens T2 in better mart but supply limited

Nov 6th, 2015
Nordea image

Nordea attracted over Eu4.5bn of demand for a “blowout” Eu750m (Skr7bn) 10 year non-call five Tier 2 issue on Monday that bankers said showed the market is wide open, but expectations for further supply next week are modest after only one Tier 2 deal followed.

Record krona Tier 2 offers Pohjola attractive alternative to euros

Aug 21st, 2015
Photo: Lauri Silvennoinen/Wikimedia Commons

Pohjola Bank turned to the Swedish krona market to raise Tier 2 debt on Tuesday after having retreated from a planned euro issue in June, and in doing so sold a Skr3.5bn FRN that is the largest single-tranche Tier 2 in the Swedish market and which market participants said offered savings for the Finnish issuer.

Pohjola holds off Tier 2 after fleeting reopening of subordinated supply

Jun 12th, 2015
Photo: Lauri Silvennoinen/Wikimedia Commons

Pohjola Bank mandated leads for a euro-denominated Tier 2 benchmark on Monday, but despite a smattering of Additional Tier 1 (AT1) and Tier 2 supply this week a deal for the Finnish issuer did not emerge against the volatile market backdrop.

KLP in rare Eu600m Tier 2 Norwegian insurance issue

Jun 5th, 2015

Kommunal Landspensjonskasse (KLP) sold a Eu600m 30 year non-call 10 Tier 2 transaction on Tuesday that, according to an official at the issuer, is its first bond issue in nine years and the largest ever from a Norwegian life insurance company in the international markets.

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.

SEB fills T2 bucket as 12NC7 draws ‘pure end-user interest’

May 29th, 2014

SEB priced a Eu1bn 12 year non-call seven Tier 2 issue last Thursday (22 May), which an official at the issuer noted is the first Swedish deal this year to feature a 12NC7 structure and was launched into a market that had lost some momentum.

Swedbank takes Tier 2 record, pre-empts Swedish finish

Feb 20th, 2014

Swedbank priced the second Nordic bank capital trade of the year on Monday, a Eu750m 10 year non-call five Tier 2 transaction that an official at the issuer said was launched in anticipation of final capital requirements from the Swedish FSA.