Nordea leads the way in dollars with deeply negative NIP

By Tyler Davies
04 Jun 2020

Nordea Bank took advantage of very attractive conditions in the dollar market this week to price a new senior deal at a spread that was well below the fair value implied by secondary trading levels.

Nordea opened books on the three year preferred senior deal through Bank of America, Citi, JP Morgan and UBS on Tuesday.

It was the first time the Finnish bank had accessed the onshore dollar market in the format in nearly two years.

The issuer was able ...

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