Storebrand Livsforsikring AS: Contemplating issuance of a Restricted Tier 1 bond issue

Storebrand Livsforsikring AS, rated A by S&P, has mandated DNB Markets and Nordea to arrange a digital fixed income investor meeting on 25 October 2023 at 13:00 CEST.

The company contemplates to issue a new Restricted Tier 1 bond issue with a perpetual tenor in NOK and/or SEK. The issuance may be split in one or more tranches, and the issuer will have a first call option after minimum 5 years. Total expected issue size is minimum 500 million and maximum 1,000 million in NOK and/or SEK, subject to market conditions.

The contemplated Restricted Tier 1 issue is expected to be rated BBB by S&P and will be Solvency II compliant. The bond issue is approved by the company's General Meeting and by the Norwegian Financial Supervisory Authority.

In conjunction with the potential bond issuance the company may consider to buy-back the outstanding Tier 2 issues with ticker codes STORL02 (ISIN NO0010706021) in NOK and/or STORL07 (ISIN NO0010863228) in SEK.

Oslo, 25 October 2023

For further information, please contact:

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

This information is subject to the disclosure requirements pursuant to Section 5 -12 the Norwegian Securities Trading Act.