Saxo Bank issues new debt to optimize capital structure

Source: Saxo Bank 2019-11-20

The Additional Tier 1 capital note is perpetual with an optional call after 5.5 years (PerpNC5.5). The Additional Tier 1 capital note is issued with a fixed interest coupon of 8.125% for the first 5.5 years. The book had strong interest from the outset and was well over-subscribed by c. 2.75x at time of closing, which helped improve the pricing terms of the offering versus initial guidance.

Saxo Bank’s Additional Tier 1 capital is issued to optimize the Bank’s long-term capital structure and to increase the coverage of regulatory requirements.

Latest Additional Tier 1 capital issue from Saxo Bank was in November 2014, where EUR 45m of Perpetual NC5.25 was issued with a fixed coupon of 9.75%.

Any questions in regards to this announcement may be addressed to Steen Blaafalk, Chief Financial & Risk Officer, on tel. +45 39 77 42 68 or Thomas Otendal, Head of Group Treasury, on tel. +45 39 77 41 70.

Saxo Bank issues new debt to optimize capital structure

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