Chicago, Nov. 3 – Jyske Bank A/S priced €500 million of 4.875% non-preferred senior green notes due 2029 on Friday (BBB+), according to a market source.
The notes priced at 99.744 to yield 4.934%, or at mid-swaps plus 183 basis points.
Initial price talk was in the mid-swaps plus 200 bps area.
The notes will be redeemable on Nov. 10, 2028.
If the notes are not redeemed the interest rate will reset to the one-year mid-swap rate plus 183 bps.
Barclays (billing and delivery), BNP Paribas, Danske Bank and Jyske Bank were the bookrunners.
The order book at the final pricing terms was above €950 million.
Proceeds will be used to finance or refinance activities under the bank’s green finance framework.
The listing will be in Dublin.
The issuer is based in Silkeborg, Denmark.
| Issuer: | Jyske Bank A/S
|
| Amount: | €500 million
|
| Issue: | Non-preferred senior green notes
|
| Maturity: | Nov. 10, 2029
|
| Bookrunners: | Barclays (billing and delivery), BNP Paribas, Danske Bank and Jyske Bank
|
| Coupon: | 4.875% initial rate, resets to one-year mid-swaps plus 183 bps
|
| Price: | 99.744
|
| Yield: | 4.934%
|
| Spread: | Mid-swaps plus 183 bps
|
| Call features: | On Nov. 10, 2028
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 10
|
| Ratings: | S&P: BBB+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 200 bps area
|
| ISIN: | XS2715957358
|
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