Key Developments: Sparebank 1 SR Bank ASA (SRBANK.OL)
53.50NOK
23 May 2013
kr-0.25 (-0.47%)
kr53.75
kr53.25
kr54.25
kr52.25
301,523
284,625
kr54.25
kr28.50
Latest Key Developments (Source: Significant Developments)
Sparebank 1 SR-Bank ASA Announces Listing of New Loan
Sparebank 1 SR-Bank ASA announced that it has listed a new loan, Spb 1 SR-Bank ASA 12/22 FRN C SUB, under the SRBANK07 ticker and NO0010664568 ISIN numbers. The value of the loan is NOK 825 million and it is an closed loan. The interest rate is 4.68% per annum and the loan is interest-bearing as of December 3, 2012. The due date is December 3, 2022. The facilitators are Danske Bank, Sparebank 1 SR-Bank Markets, Sparebank 1 Markets and Swedbank Markets. Full Article
Moody's Downgrades Sparebank 1 SR-Bank ASA's Rating
Sparebank 1 SR-Bank ASA announced that on December 6, 2012, Moody's Investor Service (Moody's) concluded its rating of the Bank, downgrading the long-term senior debt and deposit ratings of the Bank from A1 to A2. The standalone credit assessment was lowered to C-/baa2 from C-/baa1. The short term rating was affirmed. The subordinated debt rating of the Bank was downgraded to Baa3(hyb) from A2 and its junior subordinated debt rating was downgraded to Baa3(hyb) from Baa2. The Tier 1 hybrid rating was maintained. At the same time, Moody's placed the long-term senior debt and deposit ratings, the subordinated debt and Tier 1 hybrid ratings and the P-1 short term ratings of the Bank under review for downgrade. Full Article
CORRECTION OFFICIAL - Sparebank 1 SR-Bank ASA Announces Subscription Results for Subordinated Loan
CORRECTED TO READ...The loan is interest-bearing as of December 3, 2012...INSTEAD OF...The loan is interest-bearing as of November 3, 2012 with coupon 3-month NIBOR + 275 bp. Sparebank 1 SR-Bank ASA announced that the subscription for its subordinated loan has finished and the loan was subscribed for NOK 825 million. Further subscription is not possible. The loan is interest-bearing as of December 3, 2012 with coupon 3-month NIBOR + 275 bp. Arrangers are SpareBank 1 SR-Bank SR-Markets, Danske Bank Markets, Swedbank First Securities and SpareBank 1 Markets. Full Article
Sparebank 1 SR-Bank ASA Considers Launching Tier 2 of Minimum NOK 500 Million
Sparebank 1 SR-Bank ASA announced that it considers launching a 10NC5 Tier 2 of minimum NOK 500 million in the Norwegian bond market. The bond will have a maturity of 10 years and be callable after five years. The bond will include a regulatory call in case the capital fails to meet future regulatory requirements for Tier 2 capital. Arrangers are SpareBank 1 SR-Bank SR-Markets, Danske Bank Markets, Swedbank First Securities and SpareBank 1 Markets. Full Article
Sparebank 1 SR-Bank ASA Prices EUR 500 Million Bond-Reuters
Reuters reported that Sparebank 1 SR-Bank ASA has priced a EUR 500 million bond. The maturity date is May 14, 2018. The coupon is 2.0 pct and the spread is 105 basis points. Reoffer price is 99.624. The payment date is November 14, 2012. Commerzbank, Credit Suisse, DZ Bank & Societe Generale CIN act as lead managers. Full Article
Sparebank 1 SR-Bank ASA Announces Listing of New Loan
Sparebank 1 SR-Bank ASA announced listing of a new NOK 750 million closed loan (ISIN: NO0010628530) on September 28, 2012. The loan matures on December 2, 2021. The interest is 5.57% per year (3-month NIBOR + 3.50% per year), and the loan is interest-bearing as of December 2, 2011. Sparebank 1 SR-Bank, Swedbank, SEB act as facilitator. Full Article
Sparebank 1 SR-Bank ASA Announces Listing of New Loan
Sparebank 1 SR-Bank ASA announced that it is to list a new NOK 1,000 million perpetual open loan (ISIN: NO0010628522) on September 28, 2012. The interest is 7.04% per year (3-month NIBOR + 5.00% per year) and the loan is interest-bearing as of November 25, 2011. Sparebank 1 SR-Bank, Swedbank, SEB acted as facilitators. Full Article
Sparebank 1 SR-Bank ASA Announces Listing of New Loan
Sparebank 1 SR-Bank ASA announced that it is to list a new NOK 500 million open loan (ISIN: NO0010660061) on September 19, 2012. The loan matures on October 18, 2017. The interest is 3.90% and the loan is interest-bearing as of September 18, 2012. Danske Markets acts as facilitator. Full Article
Sparebankstiftelsen SR-Bank Subscribes for Shares in SpareBank 1 SR-Bank
SpareBank 1 SR-Bank (SR-Bank) announced that Sparebankstiftelsen SR-Bank (Sparebankstiftelsen) over-subscribed in the rights issue and has been awarded 876,981 additional shares in SR-Bank at a price of NOK 27 per share, in addition to the 17,182,262 shares subscribed on the basis of issued warrants. Following the delivery of the subscribed shares, Sparebankstiftelsen will own 79,735,551 shares in SR-Bank, which corresponds to approximately 31.2% of the outstanding shares of SR-Bank after the rights issue in the Company. Full Article
SpareBank 1 SR-Bank Announces Final Results of Rights Issue
SpareBank 1 SR-Bank announced that the subscription period in the rights offering and the employee offering at the Company closed on June 1, 2012 at 17.30 (CET). By the expiry of the subscription period, the Company had received subscriptions for a total of 71,474,534 new shares in the rights offering. 55,555,555 shares were offered, and the rights offering were consequently oversubscribed by 28.7%. 53,678,534 shares, representing 96.6% of the new shares in the rights offering, were subscribed for by the exercise of subscription rights. 1,877,057 shares, or 3.4%, were subscribed for through over-subscription. In the employee offering, the Company received subscriptions for a total of 751,082 new shares distributed on 260 employees. After the rights offering and the employee offering is registered with the Register of Business Enterprises, the share capital of the Company will be NOK 6,393,777,050 distributed on 255,751,082 shares, each with a nominal value of NOK 25. Following the rights offering the Company will receive gross proceeds of NOK 1,499,999,985 before transaction costs. The Company will receive gross proceeds of NOK 19,058,166 from the employee offering. SpareBank 1 SR-Markets, SpareBank 1 Markets, Pareto Securities and Arctic Securities acted as joint lead managers for the rights offering. Full Article
TEXT-Fitch affirms Norwegian SpareBanken
Feb 19 - Fitch Ratings has affirmed SpareBank 1 SMN's (SMN), SpareBank 1 SR-Bank's (SR) and Sparebanken Vest's (SV) Long-term Issuer Default Ratings (IDR) at 'A-' with Stable Outlooks and Short-term IDRs at 'F2'. The agency has also affirmed SpareBank 1 Nord-Norge's (SNN) Long-term IDR at 'A', with a Stable Outlook and Short-term IDR at 'F1'. A full list of rating actions is at the end of this rating action commentary. RATING ACTION RATIONALE The affirmation of SNN, SMN, SR and SV's ratings (co
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