Totens Sparebank plans to redeem perpetual bonds, subordinated bonds

By Rebecca Melvin

New York, July 31 – Totens Sparebank said it plans to call an issue of perpetual bonds and repay a subordinated bond loan, according to an announcement.

Both securities are redeemable on Oct. 21.

The perpetuals were issued Oct. 20, 2014 and the subordinated bond was issued Oct. 21, 2014. The redemption of both issues will be at par plus accrued interest from July 22, their last interest payment date.

The commercial bank is based in Norway.

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