Chicago, Nov. 28 – Nordea Mortgage Bank plc priced €1 billion of 2.625% three-year green covered bonds (Aaa) on Thursday, according to a source.
The bonds priced at 99.721 to yield 2.723%, or at mid-swaps plus 2 basis points.
Guidance was in the mid-swaps plus 6 bps area.
Final books at the reoffer price were around €2.5 billion.
The bonds are backed by a cover pool of 100% prime Finnish collateral.
The joint lead managers are BNP Paribas (billing and delivery), Deutsche Bank, HSBC, Nordea and UBS.
Proceeds will be used to finance/refinance new or existing green loans.
The notes will be listed on the Irish Stock Exchange.
| Issuer: | Nordea Mortgage Bank plc
|
| Amount: | €1 billion
|
| Issue: | Green covered bonds
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| Maturity: | Dec. 1, 2025
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| Bookrunners: | BNP Paribas (billing and delivery), Deutsche Bank, HSBC, Nordea and UBS
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| Coupon: | 2.625%
|
| Price: | 99.721
|
| Yield: | 2.723%
|
| Spread: | Mid-swaps plus 2 bps
|
| Trade date: | Nov. 24
|
| Settlement date: | Dec. 1
|
| Ratings: | Moody’s: Aaa
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 6 bps area
|
| ISIN: | XS2561746855
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