SEB plans debut CoCo following investor meetings

By Aimee Donnellan

Fri Oct 31, 2014 8:18am EDT

LONDON, Oct 31 (IFR) - SEB is preparing to sell a debut contingent convertible (Coco) bond following an investor roadshow that will begin next week, according to a lead manager.

The Swedish lender, rated A1/A+/A+ at the senior level, has hired Bank of America Merill Lynch, JP Morgan, Goldman Sachs, UBS and SEB's syndicate team to arrange investor meetings from November 3-5 ahead of the sale of the bond transaction which will count as Additional Tier 1 capital.

The deal is expected be temporarily written-down if the bank's Common Equity Tier 1 ratio falls below 8%. (Reporting by Aimee Donnellan; editing by Alex Chambers)

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