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Commentary & Deal Flow

NEW ISSUE: Nordea Bank Abp Min. CHF 150m 8yr Green SP; SARON MS+60a

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

IPT

Nordea Bank Abp

8yr

07-Sep-34

Min. CHF 150m

SP

Fixed

SARON MS+60a



Guidance: 8yr: SARON MS+60a

  • Issuer: Nordea Bank Abp
  • Ticker: NDAFH
  • Issuer Domicile: Finland
  • Format: Public Fixed Rate Bonds
  • Status: Senior Preferred
  • Type: Green Bonds
  • Issuer Rating: Aa2 (Negative, Moody's) / AA- (Stable, S&P) / AA (Stable, Fitch)
  • Instrument Rating (exp): Aa2 (Moody's) / AA- (S&P) / AA (Fitch)
  • Issue Size (in mm): Min. CHF 150mm
  • Coupon: 1.16% p.a. (indicative)
  • Maturity: 8 years (07-Sep-26 until 07-Sep-34)
  • Spread/Yield: SARON MS +60.0 area // YTM 1.16% area // Govt.+85 area
  • Lead Manager(s): Deutsche Bank / UBS
  • SNB Repo-eligibility: At the discretion of the SNB, expected no
  • Documentation: Off the EUR 50,000,000,00 Euro Medium Term Programme dated 08-May-26
  • FinSA Prospectus: Recognised base prospectus in accordance with art. 45 FinSA
  • Governing Law: Finland
  • Covenants: PP, Clean-up Call
  • SIX Listing: 03-Sep-26
  • Denomination: CHF 200'000
  • Use of Proceeds: An amount equal to the net proceeds of the Notes is intended to be used, directly or indirectly, to finance or refinance green bond assets evaluated and selected by the Issuer pursuant to Nordea’s Green Funding Framework published in March 2025
  • Sales Restrictions: As set out under the EMTN Programme
  • Target Market: The target market as defined by the manufacturer domiciled in the EEA (MiFID II) is eligible counterparties and professional clients only (all channels for distribution), subject to applicable selling restrictions. Public offer into Switzerland only
  • Timing: Books can close at short notice
  • Green Funding Framework: Nordea green funding framework 2025
  • SPO: Second Party Opinion (SPO) - Sustainability Quality of the Issuer, Nordea Green Funding Framework and Asset Pool
  • Sustainable Funding Presentation: Sustainable funding presentation available here: sustainable-investor-presentation-q1-2026-nordea-1.pdf