NOTICE OF SUBSTITUTION
to the holders of its outstanding
NOK 750,000,000 covered bonds due 18 June 2025 with ISIN NO0010874688;
NOK 750,000,000 covered bonds due 14 November 2025 with ISIN NO0010890858;
NOK 750,000,000 covered bonds due 4 June 2026 with ISIN NO0010922883; and
NOK 1,000,000,000 covered bonds due 8 June 2027 with ISIN NO0012523119
NOTICE IS HEREBY GIVEN to the holders of the Covered Bonds that, with effect on and from the date of this notice (the “Effective Date”), SpareBank 1 Boligkreditt AS (the “New Issuer”) shall be substituted in place of Totens Sparebank Boligkreditt AS (the “Existing Issuer”) as the debtor in respect of the Covered Bonds (in the case of each Bond, all in accordance with the bond terms of such Bond, as amended by the amendment agreement relating to such Bond dated 05 March 2025.
Accordingly, with respect to each Bond, with effect on and from the Effective Date: the New Issuer shall succeed to, and be substituted for, and may exercise every right and power of, the Existing Issuer under the Covered Bonds and with the same effect as if the New Issuer had been named as the Existing Issuer, and the Existing Issuer shall be released from its obligations under the Covered Bonds.
The New Issuer’s legal entity identifier (LEI) is 549300M6HRHPF3NQBP83
The Consent Fee (as defined in the summons for a Written Resolution dated 31 January 2025) will be paid pro rata to the Bondholders as follows:
Record Date: 10 March 2025
Payment Date: 12 March 2025
Amount: As per the table set out in the attached document.