Danish Spar Nord agrees $239 mln govt loan

COPENHAGEN, June 29 (Reuters) - Denmark's Spar Nord Bank SPNO.CO agreed to take a Danish government loan of 1.27 billion Danish crowns ($238.8 million) to boost its solvency and core capital ratios, the bank said on Monday.

The capital injection comes in the form of a hybrid core capital loan under a 100 billion crown scheme of such government loans made available to Danish banks and mortgage lenders.

Tuesday is the deadline for applications for such loans.

The annual interest rate has been fixed at 9.425 percent, based on a reference rate plus a fixed margin of 6 percentage points and an individual margin, fixed at 0.375 percent for Spar Nord Bank, the banking group said in a statement.

"As a result of floating the subordinated loan, Spar Nord Bank will increase its solvency ratio and core capital ratio by 3 percentage points compared to the first quarter," it said. (Reporting by John Acher; Editing by David Holmes)