Storebrand Livsforsikring AS ("the Company"), rated A- by S&P, refers to the announcement on 23 August 2021, and has today successfully completed issuance of a Restricted Tier 1 bond issue in the amount of SEK 900 million, with a substantial oversubscription.

The Restricted Tier 1 bond has a perpetual tenor with a first call for the Company after 5 years and will have a floating rate coupon of 3M STIBOR + 2.40% p.a. Settlement of the bonds is expected to be 1 September 2021, and the bonds will be applied for listing on Oslo Børs.

The bond is expected to be rated BBB- by S&P. The bond issue will be Solvency II compliant and the proceeds from the bond issue will be used for general corporate purposes. The bond issue is approved by the Company's General Meeting and by the Norwegian Financial Supervisory Authority.

DNB Markets and Nordea acted as joint lead arrangers.

Lysaker, 25 August 2021

For further information, please contact: Kjetil Krøkje, Group Head of Finance & Strategy, tel.: +47 93 41 21 55. 

This information is subject to disclosure under the Norwegian Securities Act section §5-12.

 

https://news.cision.com/storebrand-livsforsikring-as/r/storebrand-livsforsikring-as---successful-issuance-of-restricted-tier-1-bond,c3403035

(c) 2021 Cision. All rights reserved., source Press Releases - English