Sparebanken Møre

Capital/Financing Update • Mar 29, 2022

Sparebanken Møre: Contemplating issuance of Tier 2 bonds and buy back

Sparebanken Møre: Contemplating issuance of Tier 2 bonds and buy back

Sparebanken Møre (Issuer rating A1 by Moody’s) has mandated SpareBank 1 Markets and Swedbank as Joint Lead Managers for potential issuance of a new dated Tier 2 bond of up to NOK 350 million.

The Tier 2 bonds will have floating rate and a first call option for the issuer minimum 5 years after the issue date, subject to an approval from the Financial Supervisory Authority of Norway, if required.

In conjunction with the new issue, the bank will consider buy-back, in whole or parts, of the outstanding Tier 2 bond issue with ticker MORG42 PRO (ISIN: NO0010791692).

The timing of the potential transactions is subject to market conditions. The potential bond issue and buy-back has been approved by the Norwegian FSA and the bank's General Meeting.

Sparebanken Møre contact person:

Head of Treasury, Ove T. Ness, phone +47 70113174 mobile +47 95762524