Melhus Sparebank buys back NOK 62.7 million of floaters due 2024

By Sarah Lizee

Olympia, Wash., June 18 – Melhus Sparebank bought back NOK 62.7 million of its NOK 80 million floating-rate notes due Sept. 16, 2024 at Nibor plus 25 basis points, according to a notice.

The bank approved the buyback at a general meeting, where it also approved a new NOK 80 million time-limited subordinated loan with a first redemption right after five years. The coupon for the bond loan is Nibor plus 195 bps.

Settlement for both transactions is expected for July 2.

The savings bank has headquarters in Melhus, Norway.

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