NOBA Bank gives results of capped tender offer for floaters due 2025

By Mary-Katherine Stinson

Lexington, Ky., Sept. 25 – NOBA Bank Group AB (publ) announced the results of its capped tender offer for two series of floaters due 2025, according to multiple press releases.

The bank had issued an invitation to holders to tender their bonds for purchase for cash, up to a total nominal amount of NOK 600 million.

The company has decided to accept all the notes that were tendered in the offer, which are as follows:

• SEK 198 million of its SEK 300 million outstanding floating-rate notes due March 2025 (ISIN: NO0010952831); and

• NOK 170 million of its NOK 700 million outstanding floating-rate notes due March 2025 (ISIN: NO0010952823).

As previously reported, NOBA Bank was offering a purchase price of 99.75 for both series.

The issuer will also pay accrued interest.

The offer expired 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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