Nordea plumps bail-in buffers as it moves to Finland
Nordic bank plans €10 billion senior non-preferred debt issue by 2021
Nordea issued the first of a new wave of loss-absorbing debt in the second quarter in anticipation of shifting bail-in buffer requirements when it moves to Finland from Sweden later this year.
The Nordic bank sold so-called senior non-preferred debt – bonds that can be used to mop up losses if a bank runs into trouble – for the first time in June, in two issues: a €1 billion five-year fixed rate senior non-preferred bond, and a Skr3 billion five-year, dual tranche fixed and floating rate bond.
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