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Nordea prices AT1 bond with record-low coupon

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Nordea prices AT1 bond with record-low coupon

Nordea Bank AB (publ) issued €750 million of Additional Tier 1 notes with a record-low coupon of 3.5%, it said Nov. 22.

The offer was 7x oversubscribed, the bank noted. It also said investors in outstanding AT1 and Tier 2 instruments had approved changes to the conditions of their notes related to the pending relocation of the bank's headquarters to Finland from Sweden.

The notes had initially been marketed with a 4% coupon, the Financial Times reported.