Storebrand Bank ASA: Successful additional tier 1 bond issue/buyback
Reference is made to the stock exchange announcing that the bank was considering issue/buy back of tier 1 bonds.
Storebrand Bank ASA has issued a new additional tier 1 bond of NOK 100 million, with a coupon equal to 3 months NIBOR + 3.1 percentage points. The settlement date will be 13 March 2018. The additional tier 1 bond has a perpetual tenor, with first time call option after 5 years, and will be sought listed on Nordic ABM.
The bank has also bought back NOK 63.6 million in outstanding loan (NO0010683550), at 3 months NIBOR + 0.7 percentage points and with settlement date 13 March