Gjensidige Forsikring ASA: Successful issuance of Subordinated Tier 2 capital

29 Oct 2024 14:00 CET

With reference to the announcement dated 28 October 2024, Gjensidige Forsikring
ASA ("Gjensidige"), rated A by S&P (stable), has today successfully completed
issuance of a NOK 900 million Subordinated Tier 2 bond issue, which was
significantly oversubscribed. The Subordinated Tier 2 bond will have a floating
rate coupon equal to 3 months NIBOR + 1.45% p.a. and have a tenor of 30-years
with a first call option for Gjensidige after 5.75 years. Expected issue rating
is BBB+ by S&P.

The Tier 2 issue is Solvency II compliant, and the issuance has been authorised
by Gjensidige's General Meeting and approved by the Norwegian Financial
Supervisory Authority.

Settlement of the bonds is expected to be 5 November 2024, and the bonds will be
applied for listing on Euronext Oslo Børs.
DNB Markets and Nordea acted as joint lead arrangers.

For further information, please contact:
Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631

This information is subject to disclosure under the Norwegian Securities Act
section §5-12.

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,500 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group's operating income was NOK 36 billion in 2023, while total
assets were NOK 148 billion.

More information:
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