SpareBank 1 SMN is in the process of launching a Tier 1 Perpetual Bond Issue in the Norwegian market. The bonds will be callable and issued in two tranches; one with a variable coupon rate and one with a fixed coupon rate in the non-call period.
Arrangers are SpareBank 1 SMN Markets and Argo Securities.
The Board of Directors of SpareBank 1 SMN on 10th February 2010 proposed to refinance the hybrid capital bond from the State Finance Fund by implementing a fully underwritten rights offering with preferential rights for existing owners of equity certificates with gross proceeds of approx. NOK 800 million, a private placement towards the employees of SpareBank 1SMNand issue of hybrid capital bonds in the market of up to NOK 450 million during 2010.
Contact persons arrangers:
Lars Mikal Hatlen, Head of Fixed Income Sales SpareBank 1 SMN Markets
tel +47 976 99483
Stein Arne Jensen, Head of Fixed Income Sales Argo Securities tlf +47 24 14 74 57
Contact persons SpareBank 1 SMN:
Kjell Fordal, Chief Financial Officer, tel +47 90 54 16 72
Dag Rune Ustad, Vice President, tel + 47 95 75 93 11
This information is subject of the disclosure requirements according to § 5-12 in the Norwegian Securities Trading Act.
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Disclaimer
These written materials are not for distribution in the United States, Australia, Canada, Hong Kong or Japan. The information contained herein does not constitute an offer of securities for sale in the United States, Australia, Canada, Hong Kong or Japan.
The securities may not be offered or sold in the United States unless they are registered under applicable law or exempt from registration. The Savings Bank does not intend to register any portion of the offer in the United States or to conduct a public offer of securities in the United States. No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.