Question 1

Tier 2 notes

Accepted Answer

Mandatum Life Insurance Company Limited, a subsidiary of Mandatum plc, issued on 4 September 2024 new subordinated Tier 2 notes in an aggregate principal amount of EUR 300 million. The notes have a 15.25-year tenor and mature in December 2039. The coupon to be paid is fixed 4.5 per cent until 4 December 2029 after which the rate of interest will be floating. Subject to certain conditions, the issuer has the right to redeem the notes after five years from the issue.

Detailed information

Debt instrument	EUR 300,000,000, 4.5 per cent. 15.25NC5.25 Fixed/floating rate dated subordinated notes due 4 December 2039. Issue Price 99.963 per cent.
Status of the notes	Subordinated, Solvency II Tier 2 Notes
Issue date	4 Sep 2024
First call date	4 Sep 2029
Interest reset date	4 Dec 2029
Interest after reset date	3-month Euribor + Margin 205 (Re-offer Spread) until 4/12/2034 (year 10). Thereafter 3-month Euribor + Margin 305 (Re-offer Spread plus Step-up 100 bps).
Final maturity	4 Dec 2039
Listing	Euronext Dublin (GEM)
Documents	Listing Particulars including Terms and Conditions of the Notes 2 Sep 2024
Issue ratings	Original: BBB+ (Stable outlook) by S&P

Question 2

Financial debt to Sampo plc

Accepted Answer

In the partial demerger of Sampo plc (see more information here), a part of Sampo plc’s general liabilities that were not allocated to any specific business operations (being certain debt instruments), were allocated to Mandatum plc on the basis of the value of the assets transferring to Mandatum plc and the value of the assets remaining with Sampo plc on the effective date of the demerger. Considering that such debt instruments could not be transferred as such due to their nature, an equivalent debt relationship, with equal terms, was formed between Sampo plc and Mandatum plc.

Below is the summary of such Mandatum plc’s financial debt:

Original instrument	Nominal, EURm	Coupon, %	Maturity
Senior Bond	11.2	1.250	30 May 2025 / Paid
Senior Bond	21.7	1.625	21 Feb 2028
Senior Bond (original loan NOK denominated)	69.4 NOKm	3.100	7 Sep 2028
Hybrid Tier 2 Bond	34.7	3.375	23 May 2049*
Senior Bond	27.9	2.250	27 Sep 2030
Private placement	0.3

*First call date 23 May 2029

Question 3

Disclamer

Accepted Answer

The documents posted on this website under the title "Debt instruments" constitute a document library and relate to securities previously offered, sold and delivered. All of the securities referred to on this website have been sold. The inclusion of the documents does not constitute an offer of securities in the United States or in any other country.

Any information or opinions contained in the documents are not intended either for distribution or use by any person in any jurisdiction or country where such distribution or use would be unlawful. No securities may be offered, sold or delivered in the United States unless they have been registered under the U.S. Securities Act of 1933 or an exemption from the registration requirements of this Act is available. None of the securities referred to on this website have been or will be registered under the U.S. Securities Act of 1933 and under no circumstance do the documents constitute a solicitation or an offer to buy the securities of Mandatum plc or any of its subsidiaries, nor do the documents constitute a "Prospectus" under the United States Securities Act of 1933.

The documents posted on this website contain extracts from the originally published offer documents only, and relate specifically to the terms and conditions governing the relevant securities. Mandatum plc and its affiliated companies do not assume liability for any possible damage as a result of a discrepancy between the text of the documents as posted on this website and the text of the originally published offering documents in hard copy.

You are also reminded that documents posted on this website will not be updated after the date of the release of the documents and therefore the documents might now be outdated. Neither Mandatum plc nor any of its respective affiliates, directors, officers, employees or agents accepts any liability or responsibility whatsoever in respect of any difference between the documents distributed to you and the current information made available to you by Mandatum plc from time to time. On this website visitors may obtain financial and business information on Mandatum Group in different sections. No guarantee or statement is given by Mandatum plc or any of its affiliated companies regarding the correctness or completeness of this information.

The documents are provided for information purposes only. Mandatum plc, its directors, officers or employees accept no liability for any damages or losses arising from the use of this site or its contents.

Question 4

Credit rating reports

Accepted Answer

Question 5

Further information

Accepted Answer

Further information on rating definitions etc. can be found on the websites of the rating agencies:

S&P Global Ratings (Standard and Poor's)

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