SpareBank 1 Nord-Norge issue NOK 350 million in a Lower Tier 2 subordinated note with an end maturity of 10 years, callable 17 July 2019. Swedbank Markets and Nordea Markets were the joint lead managers and bookrunners for this transaction. The loan has a fixed interest rate of 8.35 % for the first 5 years.  Following the call date 17 July 2014, the new interest rate will be 3 month NIBOR + 5.20 %.  The purpose of the loan issue is refinancing of a subordinated loan callable in February 2010.