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Danske Bank issues new supplementary capital in euros

March 8, 2002

Stock Exchange announcement No. 7/2002
Danske Bank has decided to issue a bond loan of €400 million (approx. DKr3 billion) as supplementary capital. The loan will be issued in the European bond market and listed on the Luxembourg Stock Exchange.

The bond loan has a maturity of 13 years. The coupon prevailing until March 26, 2012 has been fixed at 5.875% p.a. with annual interest payments. The issue price has been fixed at 99.226%.

From 26 March 2012, the loan will be subject to a variable rate and the coupon will be fixed at the three-month EURIBOR plus a margin of 2.07 percentage points. At the same time the Bank may call the issue at par.

The new bond loan will fund part of the Group’s existing supplementary capital, which will be prepaid in the course of 2002.