Danske Bank has priced a $3.72 billion rights issue at a discount of 29%, The Wall Street Journal reports. As a part of the deal, shareholders of the bank will receive one subscription right for each ordinary share.
An underwriting group comprising Bank of America-Merrill Lynch, Deutsche Bank, Barclays Capital, BNP Paribas, Morgan Stanley and Nomura will take any shares not subscribed for by holders. The Danish lender also seeks to get clearance from the government to repay state loans as early as May 2012.
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