Sparebanken Møre (Issuer rating A1 by Moody’s) has mandated Nordea and SpareBank 1 Markets as Joint Lead Managers for potential issuance of Tier 2 bonds.
The Tier 2 bonds will have a floating and/or fixed rate coupon and a first call option for the issuer minimum 5 years after the issue date, subject to an approval from the Financial Supervisory Authority of Norway, if required.
In conjunction with the new issue, the bank will consider buy-back, in whole or parts, of the outstanding Tier 2 bond issue with ticker MORG45 (ISIN:NO0010809304).
The timing of the potential transactions is subject to market conditions.
The potential bond issue and buy-back has been approved by the issuers general meeting.
Ålesund, 15 Feb 2023
Sparebanken Møre
Head of Treasury, Ove T. Ness, phone +47 701 13 174 mobile +47 957 62 524