As previously announced, latest on11 November 2022 ,Nordax Bank AB (publ) ("Nordax Bank "), rated BBB/N3/Stable from Nordic Credit Rating, andBank Norwegian ASA ("Bank Norwegian ") are in the process of implementing an intragroup merger between the companies. All necessary regulatory approvals to complete the merger have been obtained. The merger will be implemented withNordax Bank as the surviving company andBank Norwegian as the transferring company. The merger is expected to be completed on or about30 November 2022 .Bank Norwegian has obtained a new credit rating covering the interim period up to the date of completion of the merger. Today, on14 November 2022 , Nordic Credit Rating assigned a new credit rating onBank Norwegian with a 'BBB' long-term rating with stable outlook and N3 short-term rating. Contact persons: CEO,Klara-Lise Aasen ; phone +47 47 63 55 83; kaa@banknorwegian.no CFO,Mats Benserud ; phone +47 95 89 15 39; mbe@banknorwegian.no This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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