DNB lands tightest 2019 senior despite money laundering noise

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By David Freitas
03 Apr 2019

Norway’s DNB Bank on Tuesday broke a record for the tightest pricing in preferred senior format so far this year, finding strong demand for a new transaction, despite market concerns about money laundering among Nordic financial institutions.

DNB Bank opened order books for a €750m five year preferred senior deal with price guidance of 45bp area over mid swaps, but closed  the transaction at 30bp over mid swaps with a 0.25% fixed coupon.

The order books grew to a size of €1.1bn.

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