BRAbank ASA: BRA-ME - Completion of Tier 2 issue
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Bergen, 27 March 2020
Reference is made to the stock exchange announcement published on 20 December 2019 regarding the establishment of a guarantee syndicate for a Tier 2 bond in BRAbank ASA ("BRAbank" or the "Company").
BRAbank has today issued a NOK 15 million a subordinated 10NC5 Tier 2 bond with a coupon of 3M NIBOR + 7.0%. The settlement date will be 27 March 2020, and the issue will be applied for listing at Nordic ABM.
The issue was managed by Pareto Securities AS and SpareBank 1 Markets AS.
For further information contact:
Hans Ljøen, Chief Executive Officer at BRAbank, phone: +47 481 87 750
Torbjørn Botnevik, Chief Financial Officer at BRAbank, phone: +47 982 80 233
BRAbank ASA is a digital bank focused on consumer finance in the Nordics. BRAbank is a cloud-based bank with strong focus on customer experience and fintech solutions. BRAbank is based in Bergen, Norway and started operation as Monobank in November 2015 and merged with BRAbank in June 2019. The bank has experienced strong growth.
The bank offers unsecured lending to qualified private individuals in Norway, Finland and Sweden. The screening process is based on an automated evaluation system, developed using the latest technology and advanced analytics. The bank also offers attractive deposit rates on its savings accounts.
BRAbank is an independent bank with approximately 1,300 shareholders and is listed on the Oslo Stock Exchange's Merkur Market with ticker symbol BRA-ME.
This information is published in accordance with the requirements of the Continuing Obligations of companies admitted to trading on Merkur Market.