Tryg Plans Tier 2 Issue, May Buy Back SEK 1.3B Notes

Tryg mandated banks for a potential NOK/SEK Tier 2 FRN, targeting 30NC5.25 and expected to be A2-rated. It is considering buying some or all of its outstanding SEK 1.3 billion Tier 2 notes, subject to a successful new issuance and other conditions.