Storebrand launches any-and-all tender offer for subordinated notes

Chicago, Nov. 28 – Storebrand Livsforsikring AS started a tender offer for any and all of the company’s €300 million fixed-to-floating rate dated subordinated notes due 2043 (ISIN: XS0909773268), according to an announcement.

The company is offering a purchase price of 102. Interest will also be paid to the settlement date.

The first call date for the notes is April 4, 2023.

The offer, started Nov. 28, expires at 11 a.m. ET on Dec. 5.

Settlement is planned for Dec. 8.

The rationale for the offer is that the issuer is actively managing its capital base.

J.P. Morgan SE is the dealer manager (+44 20 7134 2468, liability_management_EMEA@jpmorgan.com).

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, storebrand@is.kroll.com, https://deals.is.kroll.com/storebrand).

Storebrand is a financial services company based in Lysaker, Norway.

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