Storebrand braves euros for €300m 30 year sub debt
Norwegian insurer Storebrand Livsforsikring made light of the uncertain tone in the European market on Thursday, launching a €300m 30 year non-call 10 subordinated bond that attracted strong demand from institutional investors all over Europe.
Lead managers Citi, JP Morgan and Nordea gathered over 1.5bn of orders for the trade, having gone out with initial pricing thoughts of low to mid-7% area just before 10am London time. The deal followed a European roadshow that finished last Friday.
Pricing guidance was revised to 7%-7.125% when
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