SPNO Spar Nord Bank AS

Spar Nord issues additional tier 1

Spar Nord issues additional tier 1

Company announcement no. 10



Spar Nord issues additional tier 1

As part of its ongoing capital structure efforts, Spar Nord today concluded an agreement with institutional investors to issue additional tier 1 (AT1) capital totalling DKK 330 million.

The AT1 capital issued has a perpetual term, but Spar Nord has the option to prepay the bonds after five years.

The bonds are issued with a value date of 15 April 2020, and until 15 April 2025 they will carry an interest of 6.00% p.a. (fixed rate).

The loan will have a CET1 trigger point of 5 1/8%, which means that the loan will be written down if Spar Nord’s common equity tier 1 (CET1) capital ratio drops below this point. The loan can be written up again based on the rules laid down in CRR.

Please direct any questions regarding this release to the undersigned, on tel. .

Spar Nord

Ole Madsen

SVP Corporate Communication

Attachment

EN
06/04/2020

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