SpareBank 1 SMN - Contemplated TIER 1 Perpetual Bond Issue
(Thomson Reuters ONE) -
SpareBank 1 SMN is considering issuing a new Tier1 Perpetual Bond up to NOK 500
million. The bond is perpetual with redemption rights for the issuer after 5
years. The loan has no incentives to redeem (without 'step-up') if the loan is
continued after 5 years.
The bond will include a regulatory call in case the capital fails to meet future
regulatory requirements for Tier 1 capital.
The authority to issue loans was given by the Bank's Supervisory Board on 21
March 2013. The Financial Supervisory Authority's ("FSA") permission and
guidelines related to the issue were given in the letter from the FSA dated 29
January 2013.
The FSA has granted permission for early redemption of ISIN US84650RAA59 USD 75
million, by issuing new Tier 1 Perpetual Bond.
Arrangers for the new issue are SpareBank 1 SMN Markets, SpareBank 1 Markets and
Swedbank First Securities.
Contact SpareBank 1 SMN:
Kjell Fordal, CFO, tlf: +47 90 54 16 72
Dag Olav Uddu, Head of Treasury, tlf: +47 90 08 11 47
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: SpareBank 1 SMN via Thomson Reuters ONE
[HUG#1706920]
Unternehmensinformation / Kurzprofil:
Datum: 04.06.2013 - 09:30 Uhr
Sprache: Deutsch
News-ID 266071
Anzahl Zeichen: 1842
contact information:
Town:
Trondheim
Kategorie:
Business News
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"SpareBank 1 SMN - Contemplated TIER 1 Perpetual Bond Issue"
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SpareBank 1 SMN (Nachricht senden)
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