Spar Nord issues Senior Non-Preferred Notes for DKK 1,750 million and SEK 1,250 million

Company announcement no. 19

Spar Nord issues Senior Non-Preferred Notes for DKK 1,750 million and SEK 1,250 million

Following a positive dialogue with investors in Scandinavia Spar Nord will carry out its first issue of Senior Non-Preferred (so-called MREL capital) for DKK 1,750 million and SEK 1,250 million. The issue is part of Spar Nord’s plan to comply with the capital demands that follow from the bank’s appointment as Systemically Important Financial Institution.

The issue is divided into three tranches: 

• SEK 1,250 million (ISIN code DK0030454046) with a term of 4 years with possible early redemption after 3 years and a coupon of 3m STIBOR + 105 bps.
• DKK 1,350 million (ISIN code DK0030454129) with a term of 6 years with possible early redemption after 5 years and a floating coupon of 3m CIBOR + 100 bps.
• DKK 400 million (ISIN code DK0030454202) with a term of 6 years with possible early redemption after 5 years and a fixed coupon of mid-swap + 85 bps.

The issue will be documented with Spar Nord’s EMTN program which was established on 13 November 2019, and the bonds will be listed on Euronext in Dublin. The bonds are expected to receive a rating from Moody’s of A3.

The issue is arranged by Danske Bank, Nykredit, SEB and Spar Nord Markets.

Please direct any questions or comments regarding this announcement to Lasse Nyby, CEO, on tel. or Ole Madsen, Senior Vice President, on tel. .

Ole Madsen

Senior Vice President, Communication & Innovation

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