SpareBank 1 SMN

Capital/Financing Update • Mar 30, 2022

SpareBank 1 SMN: Contemplating issuance of Tier 2 bonds and buy back

SpareBank 1 SMN: Contemplating issuance of Tier 2 bonds and buy back

SpareBank 1 SMN (Issuer rating A1 by Moody’s) has mandated DNB Markets and SpareBank 1 Markets as Joint Lead Managers for potential issuance of a new dated Tier 2 bond issue with a minimum volume of NOK 600 million.

The Tier 2 bond issue will have a floating rate coupon 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 (the Norwegian FSA), if required.

In conjunction with the new issue, the bank will consider buy-back, in whole or parts, of the outstanding Tier 2 bond issues with ticker MING80 PRO (ISIN: NO0010795917) and MING82 PRO (ISIN: NO0010806904). Any buy-back volume will be limited to the new issuance volume.

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 Supervisory Board.

Trondheim, 30 March 2022

Contact SpareBank 1 SMN:

Deputy Head of treasury Per Egil Aamo, telephone +47 73 58 64 66