Storebrand ASA :Storebrand Livsforsikring AS successfully places EUR 300,000,000 Dated Subordinated Notes

21 March, 2013 Storebrand Livsforsikring AS successfully places EUR 300,000,000 6.875% Fixed/Floating Rate Dated Subordinated Notes

Storebrand Livsforsikring AS ("Storebrand") announces the successful placement of EUR 300,000,000 Fixed/Floating Rate Dated Subordinated Notes Due 2043 (the "Notes") at a fixed, annual coupon of 6.875%.

The Notes provide for an optional call by Storebrand from 2023 and for the optional or mandatory deferral of interest under certain circumstances. The Notes will qualify as available solvency margin under the prevailing European regulatory capital regime for insurers and are intended to qualify as Tier 2 capital under future European regulatory capital requirements for insurers (Solvency II). The Notes are expected to be issued on 4 April 2013 and will be listed on the regulated market of the Luxembourg Stock Exchange.

Storebrand will use the net proceeds of the issue of the Notes to repay existing subordinated indebtedness and for general corporate purposes.

Storebrand mandated Citi and J.P. Morgan as joint structuring agents and joint bookrunners and Nordea as joint bookrunner for the transaction.

Lysaker, 22 March 2013

Contacts:
Head of Investor Relations Trond Finn Eriksen: Mobile (+47) 99 16 41 35
Finance Director Sigbjørn Birkeland: Mobile (+47) 93 48 08 93

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

Subscribe