SPP Liv holders approve issuer change under SEK 700 million perpetuals

By Susanna Moon

Chicago, Nov. 6 – SPP Livforsakring AB said holders approved the change of issuer for its SEK 700 million of perpetual subordinated floating-rate notes by the end of the proposal on Tuesday.

The company said on Oct. 9 that it set a meeting for noteholders related to a change of control under its proposed merger.

SPP Liv and SPP Liv Fondforsakring AB (publ) have adopted a joint merger plan whereby SPP Fondliv will assume all the company’s assets and liabilities by way of a merger, according to a previous company press release.

The merger is expected to close by Jan. 2.

The merger means a change of issuer under the notes, and the company said it has summoned a noteholders’ meeting by way of written procedure, with the request to approve the change of issuer.

Nordic Trustee & Agency AB is the agent.

SPP Livforsakring AB (publ), doing business as SPP Liv AB, is a Storebrand, Norway-based company that offers pension and insurance products in Sweden.

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