STOREBRAND ASA: STOREBRAND LIVSFORSIKRING AS - SUCCESSFUL PLACEMENT OF NEW TIER 2 BOND ISSUE
Storebrand Livsforsikring AS has today successfully issued a new 30NC5 SEK 1,000,000,000 subordinated Tier 2 bond issue with a coupon of 3M Stibor + 2.40 per cent. The maturity date for the issue is 16 September 2049 and the issuer has a first call option on 16 September 2024. The bonds will qualify as Tier II capital under the European Solvency II regulatory capital regime for insurers.
The settlement date for the bond issue is 16 September 2019, and the bonds will be applied for listing at Oslo Børs.
In conjunction with the new bond issue Storebrand Livsforsikring AS has repurchased bonds with a nominal amount of NOK 128 million in the outstanding bond issue STORL03 callable on 17 March 2020(ISIN NO0010732464). The repurchased bonds will be written down.
Danske Bank and DNB Markets acted as Joint Lead Managers.
For further information:
Kjetil R. Krøkje, Group Head of Finance, Strategy and M&A, telephone +47 934 12 155
Nikola Heitmann, Head of Capital Management, telephone +47 416 97 236
Einar Leikanger, Head of Treasury, telephone +47 934 20 379
This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.