S-Bank Plc, Stock exchange release, 20 September 2023 at 13.15
S-Bank issues its first covered bond, valued at EUR 500 million, as part of its bond programme
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SOUTH AFRICA, JAPAN, NEW ZEALAND, SINGAPORE OR ANY OTHER COUNTRY IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
S-Bank Plc is issuing its first covered bond. The nominal value of the bond is EUR 500 million. The bond’s maturity date is 26 September 2028 and annual interest of 3.75% will be paid. The bond’s ISIN code is FI4000560990.
The issue will take place under S-Bank’s EUR 3.0 billion bond programme. The Finnish Financial Supervisory Authority approved the supplement to the bond programme’s English-language Base Prospectus on 28 August 2023. The programme’s English-language Base Prospectus with the supplement is available on the S-Bank website at s-pankki.fi/sijoittajille and s-pankki.fi/investors. The final terms and conditions of the bond now being issued are available in English on the same website as of 20 September 2023.
S-Bank announced on 31 May 2023 that it will acquire the Finnish household customer, asset management and investment services businesses of Svenska Handelsbanken AB. At the same time, S-Bank announced that the transaction would be financed through a share issue to the owners and debt financing from the market, and that S-Bank would issue covered bonds between 2023 and 2025.
Riikka Laine-Tolonen, CEO of S-Bank:
“When the acquisition of Handelsbanken’s business operations is completed in the second half of 2024, S-Bank will move up to a new size category and the next chapter in the S-Bank story will begin. The strong demand for the issue and oversubscription of the bond also reflect the strength of investors’ confidence in the bank.”
S-Bank will submit an application for the bond to be listed on Nasdaq Helsinki Ltd.
On the issue Danske Bank A/S acted as the Global Coordinator, Joint Lead Manager and Bookrunner, and Landesbank Baden-Württemberg (LBBW), Erste Group Bank AG and Nordea Bank Abp acted as the Joint Lead Managers and Bookrunners. Castrén & Snellman Attorneys Ltd acted as Legal Advisor.
Riikka Laine-Tolonen, CEO
Eero Saloranta, Director, Corporate Banking & Treasury
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
This communication does not constitute an offer of notes to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the notes. Consequently, this communication is directed only at persons in the United Kingdom in circumstances where provisions of section 21(1) of the Financial Services and Markets Act 2000, as amended, do not apply and are solely directed at persons in the United Kingdom who, (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order and (iii) other persons to whom it may lawfully be communicated (all such persons together being referred to as "relevant persons"). This release is directed only at relevant persons and any person who is not a relevant person must not act or rely on this release or any of its contents.
- S-Pankin viestintä, S-Bank Communications, +358 10 767 9300, email@example.com
About S-Bank Plc
S-Bank is a Finnish bank and part of S Group. We exist to give everyone the possibility of a little more wealth. We have more than three million customers and we know their day-to-day life. We bring convenience and value to our customers through our easy-to-use digital services, for example. Being a full-service bank, we offer support to our customers every day and at the turning points in their lives. s-pankki.fi