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OP Corporate Bank issues €1B bonds

Finland-based OP Yrityspankki Oyj, or OP Corporate Bank, issued two series of international bonds amounting to a total of €1 billion, Cbonds reported May 16.

The bonds were issued in two tranches of €500 million. The first one, which will mature May 22, 2025, carries a fixed-rate 1% coupon. The second series, which will mature May 22, 2021, carries a coupon equivalent to the three-month Euro Interbank Offered Rate plus 0.500%, according to Investopoli.

Citigroup, JP Morgan and OP Corporate Bank served as book runners on the transactions.

OP Financial Group is the parent of OP Corporate Bank.