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Update: Sparebanken Norge Issues NOK500 Million Tier 2 Capital Bonds

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(Updates to add information)

Norway-based Sparebanken Norge (SBNOR.OL) completed the issuance of Tier 2 capital bonds worth 500 million Norwegian kroner, according to a Monday release.

The bonds carry a coupon of three-month Norwegian Interbank Offered Rate plus 1.05% per annum. They also hold a first call option on Nov. 25, 2031, subject to approval from the Financial Supervisory Authority of Norway, if required.

The bonds will be applied for listing on Euronext ABM. Settlement is scheduled for Aug. 25.

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