Storebrand Bank ASA: Successful issuance of Additional Tier 1 bonds

Storebrand Bank ASA (rated A / Stable by S&P) has today issued an Additional Tier 1 bond issue with perpetual tenor in the amount of NOK 125 million. Settlement date for the issuance is 6 December 2023. The Additional Tier 1 bonds will carry a floating coupon rate equal to 3 months NIBOR plus a margin of 3.35% p.a. and have a first call option for the issuer 5 years after the settlement date, subject to approval from the Financial Supervisory Authority of Norway, if required.

In conjunction with the new issue, the bank has bought back NOK 70.2 million of the outstanding Additional Tier 1 bond issue with ticker STORB61 PRO (ISIN NO0010843501). The buy-back volume will be written down in the CSD (VPS), and outstanding in the market after this is NOK 54.8 million.

The bond issue has been approved by the bank's General Meeting.

Danske Bank acted as Sole Arranger of the transaction.

Lysaker, 29 November 2023.

Contact person in Storebrand Bank ASA: Einar Leikanger, Head of Treasury, tel: +47 934 20 379.