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Storebrand announces successful issuance of green bonds

Written by Adam Cadle
24/03/2021

Storebrand has issued a new 30.5NC10.5 €300m green subordinated bond issue with a fixed coupon of 1,875% p.a.

The maturity date for the bonds is 30 September 2051 and the issuer has a first call option on 31 March 2031.

The green bonds will qualify as Tier 2 capital under the European Solvency II regulatory capital regime for insurers and is expected to be rated BBB by S&P.

The settlement date for the bond issue is 31 March 2021, and the company will apply for the bonds to be listed on Euronext Dublin. The new issue is approved by the company's general meeting and by the Norwegian FSA (Finanstilsynet.)

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