Aker ASA: Approval of prospectus
OSLO, Norway, Feb. 4, 2021 /PRNewswire/ The Financial Supervisory Authority of Norway has on 3 February 2021 approved Supplement number 1 to the Base Prospectus dated 13 February 2020. The Supplement number 1 has been prepared in connection with the Additional Bonds (tap issue) of AKER15 (ISIN NO0010868979) of NOK 500,000,000 as announced 20 January 2021.
The Base Prospectus dated 13 2020, Supplement number 1 dated 3 February 2021 and Securities Note dated 3 February 2021 constitute a Prospectus, covering the listing of the Additional Bonds on Oslo Børs.
The Prospectus and the Supplement are available at the Aker ASA website: https://www.akerasa.com/investorer/treasury/debt
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By Frank Jackman
15 Dec 2020
Norwegian banks are unsure how to press on with their minimum requirements for own funds and eligible liabilities (MREL). The Financial Supervisory Authority of Norway (NFSA) is asking them to meet their targets with subordinated liabilities only, but there is a chance the country will implement a softer set of EU rules next year.
The NFSA is still busy handing new MREL requirements to the country s banks this quarter.
Issuers are expected to phase preferred senior bonds out of their MREL stacks over the next three years, in favour of more subordinated forms of debt They will have to show a linear build up