Gjensidige Forsikring ASA has successfully completed issuance of a NOK 1,200 million Subordinated Tier 2 bond issue, which was significantly oversubscribed. The Subordinated Tier 2 bond will have a floating rate coupon equal to 3 months NIBOR + 2.25% p.a., and have a tenor of 30.25 years with a first call option for Gjensidige after 5 years. The Tier 2 issue is Solvency II compliant and the issuance has been authorized by Gjensidige's General Meeting and approved by the Norwegian Financial Supervisory Authority.

Settlement of the bonds is expected to be 26 September 2023, and the bonds will be applied for listing on Euronext Oslo Børs.