Gjensidige Forsikring ASA

Gjensidige Forsikring ASA: Contemplating Subordinated Tier 2 bond issue

Gjensidige Forsikring ASA ("Gjensidige" or "the Company", OSE: GJF, LEI

5967007LIEEXZX6FAO47), rated A by S&P (stable), has mandated DNB Markets and

Nordea Bank Abp as Joint Lead Managers to arrange a digital fixed income

investor meeting on Monday 28 October 2024.

The company contemplates to issue a new Tier 2 bond issue in NOK with floating

interest rate. The issuance may be split in one or more tranches, and each

tranche will have a minimum 30-year tenor, and the issuer will have a first call

option after minimum 5 years. Expected issue size is up to NOK 900 million,

subject to market conditions. The Tier 2 bond issue will be Solvency II

compliant and is expected to be rated BBB+ by S&P.

The contemplated bond issue is authorised by the Company's General Meeting and

approved by the Norwegian Financial Supervisory Authority.

For further information, please contact:

Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631

This information is subject to disclosure under the Norwegian Securities Act

section §5-12.

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock

Exchange. We have about 4,500 employees and offer insurance products in Norway,

Denmark, Sweden and the Baltic states. In Norway, we also offer pension and

savings. The Group's operating income was NOK 36 billion in 2023, while total

assets were NOK 148 billion.

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