LONDON, March 5 (IFR) - Danske Bank is set to price its
inaugural Additional Tier 1 issue with a 5.75% coupon on the
back of overwhelming interest for the trade.
The Danish lender began marketing the issue, which is
expected to be rated BB+/BB+ by S&P/Fitch, at 6% area on
Wednesday morning, but this has now been revised tighter.
The order book is now closed and the expected EUR750m
perpetual non-call April 2020 issue will be priced later today.
Bank of America Merrill Lynch, BNP Paribas, Danske Bank,
Goldman Sachs, HSBC and JP Morgan are leading the issue, which
will be temporarily written down if the issuer's and/or the
group's Common Equity Tier 1 ratio falls below 7% on a
(Reporting by Helene Durand, editing by Julian Baker)