Gjensidige partially redeems perpetual bond, issues new tier 1 debt

Gjensidige Forsikring ASA has announced a partial redemption of its GJF04 bond issue, amounting to NOK 489 million. The redemption date is set for September 18, 2025, at a price of 100.853. This perpetual tenor bond will have a remaining outstanding amount of NOK 711 million following the redemption.

This move comes as Gjensidige issued a new NOK 1.2 bn Restricted Tier 1 bond on September 11, 2025, with a settlement date of September 18, 2025. The buyback of the GJF04 bond is directly connected to this new issuance, reflecting a proactive approach to managing the company's financial liabilities and capital base.

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock Exchange. In 2024, the company reported insurance revenue of NOK 39 bn and total assets of NOK 171 bn. The group operates across Norway, Denmark, Sweden, and the Baltic states, offering insurance, pension, and savings solutions.