Bank Norwegian issues additional Tier-1 bond and Tier-2 bond.
Global Banking News-September 12, 2016--Bank Norwegian issues additional Tier-1 bond and Tier-2 bond
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Global Banking News - 12 September 2016
Bank Norwegian has said that it has issued an additional Tier 1 bond of NOK210m with a floating rate coupon equal to three months NIBOR + 5.25 percentage points, a perpetual tenure and call options for the issuer.
The bank has also issued a new Tier 2 bond issue of NOK100m with a floating coupon rate of three months NIBOR + 3.00 percentage points. The bond has a tenure of 10 years.
The settlement date for both the issues is September 21, 2016, with the first call date on September 21, 2016. Arctic Securities and SpareBank 1 Markets have acted as managers for the transactions. Both issues will be applied for listing on Nordic ABM.
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