Sbanken plans to buy back outstanding tier 1 bonds, tier 2 bonds

By Sarah Lizee

Olympia, Wash., June 9 – Sbanken ASA said it is considering buying back in whole or in part its outstanding additional tier 1 bonds (ISIN: NO0010746456) and outstanding tier 2 bonds (ISIN: NO0010746464).

The buybacks are in connection with the company’s plans to issue perpetual additional tier 1 bonds and 10-year subordinated tier 2 bonds, according to a press release.

Sbanken said its board of directors has approved the transactions, which are subject to market conditions.

The bank is based in Bergen, Norway.

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