Tier 2 bond issue and partial buyback of SADG53

Fri Jun 7, 2013 11:00am EDT

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Reference is made to the announcement of 7 June 2013.

Sandnes Sparebank has today issued a NOK 350 tier 2 bond with coupon rate 3 month NIBOR + 195 bps. The purpose of the bond is to strengthen the bank's capital adequacy.

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

In connection with the tier 2 bond issue, Sandnes Sparebank has repurchased NOK 150 million in the tier 1 bond SADG53 (ISIN NO0010610959). Total outstanding amount after the repurchase is NOK 300 million.

Fondsfinans ASA acted as arranger for the bond issue and the repurchase.

Sandnes Sparebank's contact information:
Terje Frafjord, CFO, tel: +47 51 67 67 29

This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act).

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Source: Sandnes Sparebank via Thomson Reuters ONE