Danske Bank Raises $3.79B In Cash Call

Danske Bank has raised $3.79 billion in a fully subscribed rights issue.

Danske Bank has raised $3.79 billion in a fully subscribed rights issue, The Wall Street Journal reports. The Danish lender will use all the proceeds to help pay back the $4.9 billion government loan, in May 2012.

The one-for-three rights issue will raise the bank’s core tier one capital ratio to about 12.4% from 10.1%, adds Reuters. Bank of America Merrill Lynch, Deutsche Bank, Barclays Capital, BNP Paribas, Morgan Stanley and Nomura were the lead underwriters of the issue.

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