SpareBank 1 Nord-Norge issues NOK 200m new Tier 2 bond

SpareBank 1 Nord-Norge, rated Aa3 by Moody's, today announced the issuance of a new Tier 2 bond totaling NOK 200 million. The bond carries an interest rate of 3 months NIBOR + 1.30% per annum. The financial institution has included a first-time call option, exercisable on December 18, 2030, subject to approval from the Financial Supervisory Authority of Norway if required.

The supervisory board of SpareBank 1 Nord-Norge has officially approved this new issue. The company plans to apply for the bond's listing on Nordic ABM. SB1 Markets served as the sole manager for this bond issuance.

This strategic move reflects SpareBank 1 Nord-Norge's ongoing capital management activities. For further inquiries, ronny lovberg sorensen, head of treasury, is the designated contact person.