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.
Click here for the story from The Wall Street journal.
Click here for additional coverage from Reuters.