Capital/Financing Update • Nov 21, 2023
Capital/Financing Update
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SpareBank 1 SMN: Successful issuance of Additional Tier 1 bonds
SpareBank 1 SMN (Issuer rating Aa3 with stable outlook by Moody's) has today issued two new perpetual Additional Tier 1 bonds with a combined volume of NOK 300 million.
• FRN: NOK 150 million, coupon 3 month NIBOR + 3.30% p.a.
• Fixed: NOK 150 million, coupon 7.04% p.a.
Settlement date for both tranches is 28 November 2023.
Both issues have a first call option for the issuer on 28 February 2029, subject to approval from the Financial Supervisory Authority of Norway, if required.
The new issues have been approved by the bank's Supervisory Board.
The bond issues will be applied for listing on Nordic ABM.
DNB Markets, Nordea and SpareBank 1 Markets acted as Joint Lead Managers.
Trondheim, 21 November 2023
Contact person at SpareBank 1 SMN:
Deputy Head of treasury Per Egil Aamo, telephone +47 73 58 64 66
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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