Danske Bank and Nordea Mandated for Tryg Forsikring A/S Notes Issue
What happened
Tryg Forsikring A/S mandated Danske Bank and Nordea as Joint Lead Managers to arrange a Global Investor Call and explore the issuance of Tier 2 Capital Notes. These notes are expected to be NOK- and/or SEK-denominated Floating Rate Notes with a targeted 30-35 year maturity and an expected Moody’s rating of A2. Tryg Forsikring A/S is also contemplating purchasing some or all of its existing SEK 1,300,000,000 Floating Rate Tier 2 Capital Notes.
From manilatimes.net
Why it matters
The mandate involves the arrangement of capital notes, which is a significant financing activity for Tryg Forsikring A/S. The notes are restricted from retail investors in the European Economic Area (EEA). The appointment of Danske Bank and Nordea as Joint Lead Managers generates advisory fees for both institutions.
From manilatimes.net
Who's involved
- Danske BankAppointed as Joint Lead Manager for the notes issue
- NordeaAppointed as Joint Lead Manager for the notes issue
- European Economic AreaArea where retail investors are restricted from purchasing the notes
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Notes issuance restricts retail investor access in European Economic AreaNotes issuance restricts retail investor access within the European Economic AreaAlready happening
- How could the issuance of SEK-denominated capital notes affect Sweden?The issuance of SEK-denominated capital notes may affect Swedish capital market liquidityPossible
- ECB may review capital structure after notes issuance mandateECB may review capital implications of new notes issuancePossible
Keep exploring
The entities involved
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Danske Bank
bank headquartered in Denmark
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Nordea
Nordic financial institution
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