Storebrand ASA :Storebrand Livsforsikring AS successfully places EUR 300,000,000 Dated Subordinated Notes

(Thomson Reuters ONE) -


21 March, 2013 Storebrand Livsforsikring AS successfully places EUR
300,000,000 6.875% Fixed/Floating Rate Dated Subordinated Notes


Storebrand Livsforsikring AS ("Storebrand") announces the successful placement
of EUR 300,000,000 Fixed/Floating Rate Dated Subordinated Notes Due 2043 (the
"Notes") at a fixed, annual coupon of 6.875%.

The Notes provide for an optional call by Storebrand from 2023 and for the
optional or mandatory deferral of interest under certain circumstances. The
Notes will qualify as available solvency margin under the prevailing European
regulatory capital regime for insurers and are intended to qualify as Tier 2
capital under future European regulatory capital requirements for insurers
(Solvency II). The Notes are expected to be issued on 4 April 2013 and will be
listed on the regulated market of the Luxembourg Stock Exchange.

Storebrand will use the net proceeds of the issue of the Notes to repay existing
subordinated indebtedness and for general corporate purposes.

Storebrand mandated Citi and J.P. Morgan as joint structuring agents and joint
bookrunners and Nordea as joint bookrunner for the transaction.

Lysaker, 22 March 2013

Contacts:
Head of Investor Relations Trond Finn Eriksen: Mobile (+47) 99 16 41 35
Finance Director Sigbjørn Birkeland: Mobile (+47) 93 48 08 93

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



This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Storebrand ASA via Thomson Reuters ONE
[HUG#1687389]

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Datum: 22.03.2013 - 08:20 Uhr
Sprache: Deutsch
News-ID 242221
Anzahl Zeichen: 2166

contact information:
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Oslo

Kategorie:

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