Sandnes Sparebank: Contemplating tier 2 bond issue and partial repurchase of tier 1 bond (SADG53)

Fri Jun 7, 2013 3:50am EDT

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Sandnes Sparebank is contemplating an issue of NOK 300 million in a callable tier 2 bond (5+5) with floating coupon rate and fixed maturity to increase the bank's capital adequacy.

In connection with the bond issue, Sandnes Sparebank offers to repurchase up to NOK 130 million in the tier 1 bond SADG53 (ISIN NO0010610959), with preference for subscribers in the new tier 2 bond.

The bond issue and repurchase was authorised by the Representative meeting (forstanderskapet) in Sandnes Sparebank 11 April 2013. The approval and accompanying guidelines related to the issue and the repurchase were given in a letter from the Norwegian Financial Supervisory Authority ("NFSA") 4 June 2013.

Fondsfinans ASA is acting as arranger for the bond issue and the repurchase and can be contacted by phone; +47 23 11 30 64, or e-mail;

Sandnes Sparebank's contact information:
Terje Frafjord, CFO, tel: +47 92 83 54 30

Fondsfinans' contact information:
Anders Høyem, Head of Sales
Tel: +47 23 11 30 64

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)


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Source: Sandnes Sparebank via Thomson Reuters ONE

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