Pareto Bank ASA: Contemplating issuance of Additional Tier 1 and Tier 2 bonds
Pareto Bank ASA (Issuer rating BBB by Scope Ratings) has mandated Danske Bank
and SpareBank 1 Markets as Joint Lead Managers for potential issuance of a new
perpetual Additional Tier 1 bond and a Tier 2 bond issue.
The Additional Tier 1 and Tier 2 bonds will have floating and/or fixed rate and
a first call option for the issuer minimum 5 years after the issue date, subject
to an approval from the Financial Supervisory Authority of Norway, if required.
In conjunction with the new issue, the bank will consider buy-back, in whole or
parts, of the outstanding AT1 bond with ticker PARB30 PRO (ISIN: NO0010822950).
The timing of the potential transactions is subject to market conditions.
The potential bond issues have been approved by the bank's General Meeting and
Board of Directors.
Oslo, 3 March 2023.