Gjensidige Forsikring ASA: Successful issuance of Subordinated Tier 2 capital
With reference to the announcement dated 28 October 2024, Gjensidige Forsikring ASA ("Gjensidige"), rated A by S&P (stable), has today successfully completed issuance of a NOK 900 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 + 1.45% p.a. and have a tenor of 30-years with a first call option for Gjensidige after 5.75 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