On 4 December 2013, after having conducted investor meetings, Spar Nord
launched an issue of new Tier 2 capital. 

The issue was met with substantial investor interest and the coupon was set at
CIBOR 3 +390 bps – somewhat lower than expected. 

The bonds will be issued at par, the value date being 18 December 2013. The
bonds will have a term to maturity of up to 10 years with an option for early
redemption by Spar Nord at par after five years, and each subsequent quarter.
The bonds will be allotted the ISIN code DK0030330311. 

The issue was oversubscribed for by more than 100 % and sold to a broad range
of institutional investors, financial investors and Private Wealth. 

The issue forms part of Spar Nord’s long-term capital strategy and should be
seen in connection with the planned repayment of DKK 1,265 state-funded hybrid
core capital in May 2014. 

Danske Bank acted as lead-manager and Spar Nord as co-lead-manager.


Please direct any questions you may have to Ole Madsen, SVP Corporate
Communication, who can be reached on tel. +45 9634 4010.