Information about our credit rating, long-term funding programme and outstanding debt and capital issues.
Capital & Debt

Moody's Credit Opinion
| Category | Moody's Rating |
|---|---|
| Outlook | Stable |
| Counterparty Risk Rating | A1/P-1 |
| Bank Deposits | A1/P-1 |
| Baseline Credit Assessment | baa1 |
| Adjusted Baseline Credit Assessment | baa1 |
| Counterparty Risk Assessment | A1(cr)/P-1(cr) |
| Senior Unsecured MTN | (P)A1 |
| Junior Senior Unsecured | A3 |
| Junior Senior Unsecured MTN | (P)A3 |
| Subordinate | Baa2 |
| Pref. Stock Non-cumulative | Ba1 (hyb) |
2018
Green Bonds
We have issued Green Bonds since 2022. Following the merger of three banks, we currently have Green Bond Frameworks originating from the former Arbejdernes Landsbank Group and the former Sydbank. All our Green Bond Frameworks follow ICMA’s Green Bond Principles, and Sustainalytics has confirmed that they are credible and impactful. You can find the frameworks and the related Second-Party Opinions issued by Sustainalytics below.
We will continue to use the former Sydbank’s Green Bond Framework until we have developed a new common framework. We remain committed to fulfilling the obligations associated with our green bond issuances. We therefore continue to publish investor reports for both AL Sydbank and the former Arbejdernes Landsbank Group.
Green Bond Framework
- Sydbank Green Bond Framework May 2024
- AL Green Bond Framework June 2023
- Sydbank Green Bond Framework May 2022
Second Party Opinion
- Sydbank Second Party Opinion from Sustainalytics, May 2024
- AL Second Party Opinion Systainalytics, Juli 2023
- Sydbank Second Party Opinion from Sustainalytics, May 2022
Green Bond Reporting
- Green Bond Investor Report 2026
- Impact and Allocation Report 2026
- Green Bond Investor Report 2025
- Impact And Allocation Report 2025
- Green Bond Investor Report 2024
- Impact and Allocation Report 2024
- Impact and Allocation Report 2023
Green Bonds issued by us
- NOK 300m SNP Notes due 2032 (XS3393956167)
- NOK 700m SNP Notes due 2032 (XS3393973501)
- SEK 250m SNP Notes due 2030 (XS3393956241)
- SEK 350m SNP Notes due 2030 (XS3393973683)
- EUR 500m SNP Notes due 2031 (XS3391818963)
- EUR 500m Non-preferred Senior Notes due 2028 (XS2675722750)
- EUR 500m Non-preferred Senior Notes due 2029 (XS3174822489)
Funding Programme
For long-term funding, we established its Global Medium Term Note programme in 2001. The current limit on the programme is EUR 4 billion.
Our Offering Circular can be found below:
Debt & Capital issues
Below you can find a list of our outstanding benchmark bond issues under the GMTN programme and download the final term sheets:
- NOK 250m Tier 2 Notes due 2036 (XS3359608075)
- SEK 1250m Tier 2 Notes due 2036 (XS3359607937)
- EUR 100m Tier 2 Notes due 2035 (XS2893024765)
- SEK 550m Tier 2 Notes due 2034 (XS2754409816)
- NOK 650m Tier 2 Notes due 2034 (NO0013135277)
- EUR 500m Non-preferred Senior Notes (Green Bond) due 2028 (XS2675722750)
- EUR 500m Non-preferred Senior Notes (Green Bond) due 2027 (XS2826614898)
- EUR 500m Non-preferred Senior Notes due 2029 (XS3174822489)
We has issued the following capital issues with perpetual maturity.
The prospectuses for the capital issues can be found below: