NOBA Bank Group AB (publ) announces tender offer for certain of its outstanding NOK and SEK bonds

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NOBA Bank Group AB (publ) (the “Company”) is offering bondholders (including any beneficial owners who hold their bonds via nominees or custodians) (the "Bondholders") of the Company’s outstanding SEK 300,000,000 senior unsecured floating rate bonds due March 2025 (ISIN NO0010952831) and NOK 700,000,000 senior unsecured floating rate bonds due March 2025 (ISIN NO0010952823) (the “Bonds”), to tender their Bonds for the Company to purchase against cash payment at the purchase prices set out below, plus any accrued and unpaid interest (the “Tender Offer”).

The tendered amount of Bonds accepted by the Company is subject to a total cap of NOK 600,000,000 (the cap may however be increased, decreased or not be applied at the Company’s sole discretion). The Bonds will be repurchased in accordance with the terms and conditions described in a tender information document dated 18 September 2023 (the “Tender Information Document”).

The Tender Offer is being made as part of the Company’s commitment to actively use liability management as a tool to manage its balance sheet.

The Tender Offer period commences immediately and expires at 15:00 p.m. CEST on 22 September 2023, unless it is extended or terminated at the sole discretion of the Company. The Company will announce the result of the Tender Offer as soon as reasonably practicable after the expiry of the Tender Offer period. Settlement of the Tender Offer is expected to occur on or around 28 September 2023. 

Bondholders can only participate in the Tender Offer by submitting a valid tender instruction to the dealer manager as further described in the Tender Information Document. The terms and conditions of the Bonds will continue to be in effect for the Bondholders that does not participate in the Tender Offer and the Bondholders whose Bonds the Company chooses not to purchase in the Tender Offer. The Bonds that the Company accepts to purchase will remain outstanding on the Company’s balance.

The full terms and conditions of the Tender Offer can be found in the Tender Information Document, which is attached to this press release and is also made available by the dealer manager (contact info set out below).

The Company has mandated Nordea Bank Abp to act as dealer manager for the Tender Offer.

Dealer manager:
Nordea Bank Abp: +45 6136 0379, nordealiabilitymanagement@nordea.com

For further information, please contact:
Arash Bigloo, Head of Treasury, NOBA
arash.bigloo@nordax.se
+46 738 66 06 62                          

About NOBA Bank Group

With a diversified offering through three brands, Nordax Bank, Bank Norwegian and Svensk Hypotekspension and 2 million consumers, we have the size, skill, and scale to enable healthier finances for more. NOBA collects specialized, customer centric financial offerings that is sustainable for the individual, the bank and the society at large, today and tomorrow. NOBA Bank Group AB (publ) ("NOBA") is owned by Nordic Capital Fund IX, Nordic Capital Fund VIII and Sampo. Today the NOBA group has approximately 650 employees and is active in 7 markets.

As of 30 June 2023, lending to the public amounted to SEK 101.5 billion and deposits to SEK 87.2 billion.

Read more about NOBA and our brands at www.noba.bank.

This information is information that NOBA Bank Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Norwegian Securities Trading Act section 5-12. The information was submitted for publication through the agency of the contact person set out above at 10.10 a.m. CEST on 18 September 2023.