-Pohjola Bank to sell EUR40m index bond.
BANKING AND CREDIT NEWS-May 17, 2012--Pohjola Bank to sell EUR40m index bond(C)2012 M2 COMMUNICATIONS http://www.m2.com
17 May 2012 - Finland's Pohjola Bank Plc plans to place an index-linked bond with a volume of up to EUR40m (USD51m) under its domestic bond programme, the lender said.
The offer will be managed by Pohjola Bank itself, with the branches of OP-Pohjola Group member banks and op.fi/joukkolainat to serve as subscription agents for the offer.
The security, to be listed on NASDAQ OMX Helsinki, will be sold on 4 July 2012. The bond will have a five-year maturity and will target retail investors, the statement said. Subscription for the Pohjola Eurooppa Indeksi VIII/2012 bond will start on 21 May.
The index will be linked to the performance of the EURO STOXX 50, the bank added.
In April, Pohjola said it would sell an index-linked bond of the same size on 6 June 2012.
Pohjola Bank, part of local financial group OP-Pohjola, recorded a consolidated pre-tax profit of EUR258m in 2011.
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