Storebrand Bank ASA - Covered bond issued from Storebrand Kredittforetak
Storebrand Kredittforetak has today issued the first Euro tranche in
the recently established loan programme for covered bonds. A total of
EUR 500 millon 2 year fixed rate covered bonds have been issued . Lead
arrangers were Dresdner Kleinwort and Societe Generale.
Storebrand Kredittforetak is a wholly owned subsidiary of Storebrand
Bank. The company was licensed to issue covered bonds on January 7,
2008. Covered bonds will represent an important source for long-term funding
for Storebrand Bank. As at March 31 2008, a total mortgage pool of NOK
6.4 billion had been transferred from Storebrand Bank to Storebrand
Kredittforetak.
Oslo, May 22, 2008
Contact person:
Finance Director Trond Fladvad, Storebrand Bank: +47 928 97 173