Storebrand Livsforsikring AS: Successful issuance of green Tier 2 bond issues
Storebrand Livsforsikring AS, rated A by S&P, has today issued two new green subordinated Tier 2 bond issues with floating and fixed-to-floating coupon: · FRN: NOK 1,250 million, coupon 3 months NIBOR + 3.70% p.a. · Fixed-to-floating: NOK 750 million, coupon 7.35% p.a. to 17 February 2028 Both issues have settlement date on 17 November 2022, and a tenor of 30.25 years with a first call option for the issuer on 17 November 2027. The bond issues will qualify as Tier 2 capital under the European Solvency II regulatory capital regime for insurers and is expected to be rated BBB+