NOBA Bank begins capped tender offer for floaters due 2025

By Marisa Wong

Los Angeles, Sept. 18 – NOBA Bank Group AB (publ) announced an invitation to holders of its outstanding bonds from two series to tender their bonds for purchase for cash, up to a total nominal amount of NOK 600 million.

The following bonds are covered by the offer:

• SEK 300 million outstanding floating-rate notes due March 2025 (ISIN: NO0010952831); and

• NOK 700 million outstanding floating-rate notes due March 2025 (ISIN: NO0010952823).

NOBA Bank is offering a purchase price of 99.75 for both series.

The issuer will also pay accrued interest.

Tenders may be subject to proration.

The offer expires at 9 a.m. ET on Sept. 22.

Settlement will be on Sept. 28.

Nordea Bank Abp (nordealiabilitymanagement@nordea.com) is the dealer manager.

The Stockholm-based bank said the tender offer is being made as part of its commitment to actively use liability management as a tool to manage its balance sheet.

NOBA is a niche bank that specializes in consumer loans and credit cards in the Nordic region, Germany and Spain, non-standard mortgage loans in Sweden and Norway and equity-release mortgages in Sweden.

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