DNB smashes through 5% with pricing on new dollar AT1

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By Tyler Davies
05 Nov 2019

DNB Bank moved the pricing by 37.5bp on a new additional tier one (AT1) in the dollar market this week, becoming one of the first banks to break through the 5% pricing marker.

The Norwegian bank set the final coupon at 4.875% for its perpetual non-call five year bond, which had been marketed via Barclays, BNP Paribas, DNB Markets, Goldman Sachs and HSBC.

The lead managers had started out with price thoughts in the 5.25% area, but ...

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