Tryg Forsikring prices new Tier 2 capital notes

Tryg Forsikring A/S announced the successful pricing and subscription of new Tier 2 Capital Notes, comprising NOK 600m and SEK 800m. The transaction was oversubscribed by more than 1.9 times, with primary placement among asset managers and funds across Scandinavian countries. Settlement for the notes is scheduled for 2 October 2025.

The NOK Notes will bear a variable interest rate of 3M NIBOR +115bps per annum, while the SEK Notes will have a variable interest rate of 3M STIBOR +115bps per annum. Both tranches include an interest rate step-up of 1.00% per annum starting from 2 October 2035. The first interest payment is set for 2 January 2026, with a scheduled maturity date of 2 January 2056. Tryg Forsikring A/S retains the option to prepay the notes at par between 2 October 2030 and 2 January 2031, or on any subsequent Interest Payment Date.

The notes are expected to be listed on Nasdaq Copenhagen. Tryg, a leading Nordic insurance company, maintains its listing on NASDAQ Copenhagen.