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Bank Norwegian contemplating issuance of Additional Tier 1, Tier 2 bonds

Norwegian Finans Holding ASA unit Bank Norwegian AS is considering issuing dated subordinated Tier 2 capital and perpetual Additional Tier 1 instruments, subject to market conditions.

Both notes will have a floating coupon rate and a call option for the issuer after five years, subject to approval from the Norwegian Financial Supervisory Authority. Bank Norwegian's general meeting and the Norwegian FSA have already approved the issuances.

Bank Norwegian has mandated Arctic Securities AS and Nordea Markets as advisers and joint lead arrangers on the potential transactions.