Storebrand ASA: Successful issuance of Restricted Tier 1 capital from Storebrand Livsforsikring AS
Storebrand Livsforsikring AS, rated A by S&P, refers to the announcement on 12 February 2025 and the company has today issued perpetual Restricted Tier capital which was substantially oversubscribed, and is split in the following two tranches:
- NOK 700 million with a floating rate coupon equal to 3 months NIBOR + 2.25% p.a.
- SEK 300 million with a floating rate coupon equal to 3 months STIBOR + 2.20% p.a.
The bonds will be Solvency II compliant, and all tranches have a first-time call option for the company 5 years after the settlement date on 20 February 2025, and are expected to be rated BBB by S&P.
The issuance is approved by the company's General Meeting and by the Norwegian Financial Supervisory Authority.
DNB Markets and Nordea acted as Joint Lead Managers.
Lysaker, 13 February 2025
This information is subject to the disclosure requirements pursuant to Section 5 -12 the Norwegian Securities Trading Act.