Swedbank has listed its additional tier 1 (AT1) capital on the Irish Stock Exchange’s Global Exchange Market (GEM). The US$750 million debt instrument fulfils new European capital regulations for banks. The debt security has a coupon of 5.5 per cent. The loan is perpetual with a call option after 5 years. The issuance is in the form of debt instruments that convert into ordinary shares if the regulatory capital of the bank decreases to a certain level.
Other Nordic AT1 issuers listing on the ISE include Saxo Bank, Danske Bank and Nordea Bank.
Swedbank is a Nordic-Baltic banking group headquartered in Stockholm. Swedbank has 8 million private customers and over 500,000 corporate customers. It has more than 500 branches in 12 countries, primarily in its principal markets of Sweden, Estonia, Latvia and Lithuania.
