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Norway’s SpareBank buys back NOK 138 million of tier 2 bonds due 2024
By Susanna Moon
Chicago, Jan. 22 – SpareBank 1 Boligkreditt said it repurchased NOK 138 million of its tier 2 bonds due 2024.
The issuer bought back the notes at a price of 100.25 with settlement set for Jan. 24, according to the notice.
Afterward, the outstanding amount in the market is NOK 337 million, the release noted.
The notes were issued in 2014.
Along with the repurchase, the issuer said it issued NOK 300 million of new tier 2 bonds with a coupon of Nibor plus 192 basis points and a maturity of 10 years, with settlement also set for Jan. 24.
SpareBank is a is a Stavanger, Norway-based covered bond issuer jointly owned by the saving banks working closely together under the SpareBank 1 brand.
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