Danske Bank issues subordinated
capital of SEK 2 billion
Danske Bank issues subordinated  capital of SEK 2 billion

Original announcement entitled "Danske Bank issues Subordinated Capital for Swedish kronor two billion".

February 5, 2007

Stock Exchange Announcement No 06/2007
With reference to the Stock Exchange Announcement dated 9 November 2006, Danske Bank has issued Hybrid Tier 1 Capital Notes for Swedish kronor two billion as part of the financing of the acquisition of Sampo Bank.

The Hybrid Tier 1 Capital Notes, which are issued in two Tranches, will be perpetual and subordinated to all ordinary creditors and supplementary capital, senior only to the share capital.

Tranche 1 amounts to SEK 1,350 million (DKK 1,110 million) Capital Floating Rate Notes with a coupon of three-month STIBOR plus a margin of 0.65 per cent. p.a. for the period from 15 February 2007 to 15 February 2017. The issue price has been fixed at 100 per cent.
From 15 February 2017, the coupon will be set at three-month STIBOR plus a margin of 1.65 per cent. p.a..The Bank will have the option to call the Capital Floating Rate Notes at their outstanding principal amount on the said date or any subsequent interest payment date.

Tranche 2 amounts to SEK 650 million (DKK 535 million) Capital Fixed Rate Notes with a coupon of 5.1192 per cent. p.a. for the period from 15 February 2007 to 15 August 2017. The first coupon is short and payable on 15 August 2007 and thereafter annual coupons. The issue price has been fixed at 100 per cent.
From 15 August 2017, the coupon will be set at three-month STIBOR plus a margin of 1.65 per cent. p.a..The Bank will have the option to call the Capital Fixed Rate Notes at their outstanding principal amount on the said date or any subsequent interest payment date.

The two tranches have been arranged by Danske Markets, documented under the Bank’s Euro Medium Term Note Programme and will be listed on the Irish Stock Exchange in Dublin.