Updated: Valhalla beckons for Danish banks with Eu750m club

26 Mar 2010

BNP Paribas and Danske Markets priced a Eu750m club funding deal for several regional Danish banks on Friday. This is the second club deal for small Danish banks under the government's guarantee scheme. JPMorgan led the first deal of this type in February, the Guaranteed Funding (DK) 2009-1.

Valhalla I SA, the issuing vehicle, parcelled three year floating rate loans carrying a guarantee from the Kingdom of Denmark, according the bonds a triple-A rating from Moody’s and Fitch and an expected 0% risk weighting. The leads priced the notes at 35bp over Euribor.

There are few direct ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial