Sparebanken Vest

06/15/2021 | Press release | Distributed by Public on 06/15/2021 05:45

Sparebanken Vest: Contemplating issuance of Additional Tier 1 bonds

Sparebanken Vest ('the bank') has mandated DNB Markets, SpareBank 1 Markets and Norne Securities as Joint Lead Managers for potential issuance of perpetual Additional Tier 1 bonds of NOK 400 million. The Additional Tier 1 bonds will have floating rate 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, if required. In conjunction with the new issue, the bank will consider buy-back, in whole or parts, of the outstanding Additional Tier 1 bond issue with ISIN: NO0010771603 (SVEG86 PRO). The timing of the potential transactions is subject to market conditions. The potential bond issue and buy-back has been approved by the bank's General Meeting. Contact persons in Sparebanken Vest: Frank Johannesen, CFO, tel: +47 952 65 971 John Hopp, Head of Treasury, tel: +47 450 81 776