With reference to company announcement no. 12 dated 12 November 2018, Spar Nord announces that the Bank has entered into an agreement with a large number of Danish investors to issue new Tier 2 capital in the form of a bond loan for DKK 500 million.
The bond loan has a term of 10.5 years with optional early redemption after 5.5 years. The sale of bonds will be settled with 29 November 2018 as the value date.
The loan is divided into two tranches.
The first tranche of DKK 150 million with ISIN code DK0030431341 will be issued with a fixed coupon of 2,9298% the first 5.5 years, after which the interest rate will be 6-month CIBOR plus 240 basis points.
The second tranche of DKK 350 million with ISIN code DK0030432075 will be issued with a floating coupon which is 6-month CIBOR plus 240 basis points throughout the term of the loan.
Nykredit and Spar Nord Markets have assisted Spar Nord as joint lead managers in the transaction.
Please direct any questions or comments regarding this announcement to Ole Madsen, Senior Vice President, Communication & Business Development, on tel. +45 96 34 40 10.
Ole Madsen
Senior Vice President, Communication & Innovation
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