Aktia issued a EUR 500 million covered bond
Aktia Bank Plc
Press release
24 May 2023 at 4.15 p.m.
Aktia issued a EUR 500 million covered bond
On Tuesday 23 May 2023, Aktia Bank Plc issued a new EUR 500 million covered bond, due in May 2027. The bond was priced 17 basis points over swap rates (MS +17). Aktia’s previous corresponding issue took place in January 2022.
The final order book included subscription offers corresponding to over EUR 1.25 billion from over 50 investors. More than half of the orders were submitted from German-speaking Europe. Approximately one third of the orders were received from the Nordic countries, more than half of them from Finnish investors. Subscription orders were also submitted for example from Netherlands, France, Italy and Great Britain.
The issuing banks were Danske Bank, DZ Bank, Erste Group, LBBW and Nordea.
"I am very satisfied with the final outcome of the issue. It was oversubscribed by 2.5 times and competitively priced, which is a very good result considering the competitive market situation. The excellent performance on the capital market is proof of our successful investor work both in Finland and internationally. It is great that the investors gave us their trust and that we have managed to maintain a stable and strong demand for our products on the debt market", says Outi Henriksson, CFO of Aktia.
Aktia Bank Plc
Further information:
Timo Ruotsalainen, Head of Treasury, tel. 010 247 7211
Distribution:
Nasdaq Helsinki Ltd
Mass media
Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next already for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds also internationally. We employ approximately 900 people around Finland. Aktia's assets under management (AuM) 31 December 2022 amounted to EUR 13.5 billion and the balance sheet total was EUR 12.4 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com
