Storebrand Bank ASA: Successful issuance and buybacks of AT1 and subordinated Tier 2 bonds
Reference is made to the recent stock exchange notice announcing potential issuance and buy back of AT1 and subordinated Tier 2 bonds. Storebrand Bank ASA has issued a new additional Tier 1 bond of NOK 125 million, with a coupon equal to 3 months Nibor + 3,75 percentage points. The additional Tier 1 bond has a perpetual tenor, with the first call option after 5 years. The bank has in addition issued a new dated subordinated Tier 2 bond of NOK 125 million with a coupon equal to 3 months Nibor + 1,78 percentage points. The bond has a tenor of 11 years, with the first call option after 6 years.