SEB issues Additional Tier 1 Capital
SEB issues Additional Tier 1 Capital (AT1) to optimise its capital structure. The USD 500 million issuance has a coupon of 6.875 per cent and an issue price of 100 per cent.The loan has no final maturity, but entails a possibility for SEB to redeem the loan after five years (30 June 2027), and any time thereafter. The issuance is in the form of a debt instrument with automatic conversion into Class A shares if the Common Equity Tier 1 ratio of SEB falls below a certain level.The issuance of AT1 capital is part of SEB’s capital planning. The issuance will be subscribed and allotted to