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Sparebanken may buy back all or some of NOK 150 million perpetuals
By Sarah Lizee
Olympia, Wash., June 27 – Sparebanken Oest is considering a buyback in whole or in part of its NOK 150 million floating-rate perpetual notes, according to a notice.
The coupon for the bonds is Nibor plus 280 basis points.
The bank said the repurchase would be made in connection with its proposed issuance of NOK 150 million of perpetual additional tier 1 bonds with a first call option after five years. DNB Markets has been mandated for the issue.
The new issue was approved by the bank's supervisory board, and the potential buyback and the new issuance was approved by the Norwegian FSA.
The bank is based in Drammen, Norway.
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