GJEB: Gjensidige Bank ASA – issuance of AT1 capital
Reference is made to today’s announcement of a potential issuance of Additional Tier 1 capital (AT1). Gjensidige Bank ASA has today issued a new Additional Tier 1 bond issue (fondsobligasjon) of NOK 70 million with a coupon rate of 3M NIBOR + 3.2 percentage points. Settlement date is 20 June 2017. The bond issue has a perpetual tenor with a first time option for the issuer to call the issue on 20 June 2022. The purpose of the bond issue is to strengthen the bank's capital ratios, and the Financial Supervisory Authority of Norway (Finanstilsynet) has approved the issuance. DNB