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Sparebanken Sør prices rights issue

SparebankenSør said April 4 that it priced a rights issue of 10,895,270 newequity certificates at 55 Norwegian kroner per certificate, implying grossproceeds of 599.2 million kroner.

Holders of equity certificates as of April 1 will receive2.3 rights per equity certificate owned, with each right entitling the holderto be assigned 1 new equity certificate.

Trading in the rights will open April 5 and close April 19.The payment date is set for April 27, with the registration of capital andissuance of new equity certificates slated on or around May 3.

DNB Markets and Pareto Securities are serving asfacilitators in connection with the rights offering. Advokatfirmaet Selmer DAis serving as legal adviser.

The Norwegian lender said in February that Sparebankstiftelsen SparebankenSør presubscribed for 244 million kroner and will through the rights issueensure the maintenance of its 51% ownership share.

As of April 4, US$1was equivalent to 8.30 Norwegian kroner.