Today, Arion bank issued a green EUR 300 million senior preferred notes. The notes have a 3.5 year maturity and pay a coupon of 3.625% which corresponds to a spread of 88 bps over mid-swaps.
The deal was 8x times oversubscribed with orders received from 124 investors spanning more than 26 countries across EMEA and APAC. Final books stood in excess of EUR 2.4bn.
The bonds will be issued under the bank’s EMTN programme with reference to the bank’s sustainable finance framework, which has been reviewed by ISS Corporate as second-party opinion provider.
The joint lead managers were BofA Securities, Deutsche Bank, J.P Morgan and Natwest