Danske prices first covered in line with SEB

Danske 230x150
By Bill Thornhill
14 Nov 2017

Danske Bank extended its covered bond maturity curve by more than five years on Tuesday, breaking with tradition to price in line with where SEB recently issued.

Danske Bank issued a €500m 10 year at 5bp through mid-swaps with demand of €1.2bn on Tuesday. 

The borrower mandated ABN Amro, Natixis, NatWest Markets,UniCredit and its own syndicate to lead manage the transaction and simultaneously opened order books with initial guidance of 1bp through. 

Two ...

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