Swedbank issues Additional Tier I Capital (AT1) to optimize its capital structure. The USD 500 million issuance has a coupon of 5.625 per cent and an issue price of 100 percent.
The loan is perpetual with a call option after 5 years. The issuance is in the form of debt instruments with mandatory conversion into ordinary shares if the regulatory capital of the bank decreases to a certain level.
The issuance will be subscribed by and allotted to the joint lead managers. Settlement date is 29 August 2019. The instruments will be listed on the Global Exchange Market regulated by the Irish