Gjensidige Forsikring ASA: Successful issuance of Subordinated Tier 2 capital
With reference to the announcement dated 19 February 2024, Gjensidige Forsikring ASA ("Gjensidige"), rated A by S&P (stable), has today successfully completed issuance of a NOK 800 million Subordinated Tier 2 bond issue, which was significantly oversubscribed. The Subordinated Tier 2 bond will have a floating rate coupon equal to 3 months NIBOR + 1.70% p.a., and have a tenor of 30.5 years with a first call option for Gjensidige after 5.25 years. Expected issue rating is BBB+ by S&P. The Tier 2 issue is Solvency II compliant, and the issuance has been authorised by Gjensidige's General