-Danish Spar Nord Bank plans EUR114m share issue.
M2 EQUITYBITES-February 8, 2012--Danish Spar Nord Bank plans EUR114m share issue(C)2012 M2 COMMUNICATIONS http://www.m2.com
8 February 2012 - Denmark-based Spar Nord Bank will place stock with existing shareholders, seeking to collect around DKK850m (USD152m/EUR114m), the lender said today.
The issue, aimed at reinforcing Spar Nord's capital base, will be put to the vote of the bank shareholders at a special meeting slated for 1 March.
Spar Nord Bank expects to start the rights offer by end-March 2012.
Carnegie Investment Bank and Danske Bank will likely underwrite the entire issue, Spar Nord added.
The transaction is seen to increase the bank's Tier 1 equity ratio to 12.5%.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 8, 2012|
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