Nykredit returns to AT1 with tightly priced deal

By Tyler Davies
06 Oct 2020

Nykredit Realkredit was set to launch its first additional tier one (AT1) in over five years on Tuesday, tightening its pricing by more than 50bp to close in on a level that looked close to fair value.

The Danish mortgage lender hired BNP Paribas, Bank of America, Goldman Sachs, Morgan Stanley and Nykredit Bank as bookrunners for the perpetual non-call six year AT1. 

They went out with initial price thoughts of 4.75% area, which included a healthy premium for investors. 

Nykredit’s closest peers in ...

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