SpareBank 1 SMN

Issuance of Tier 2 capital

SpareBank 1 SMN refers to the announcement on 20 August 2018, and the bank has today issued a subordinated Tier 2 bond issue of NOK 500 million with a 10-year tenor. Settlement date for the bond issue is 4 September 2018. The principal amount was increased from NOK 400 million due to a substantial oversubscription.

The Tier 2 bond issue has a coupon of 3 months NIBOR + 1,45% p.a. The issuer has a first call option after 5 years, subject to an approval from the Norwegian FSA.

The new issues are approved by the Norwegian FSA and the bank's Supervisory Board.

DNB Markets and SpareBank 1 Markets acted as joint lead managers.

Trondheim, 4 September 2018

Contact person in SpareBank 1 SMN:  
Deputy Head of treasury Per Egil Aamo, tel [phone]

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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Source: SpareBank 1 SMN via Globenewswire