Bond Trustee Fees

The issuer pays an annual fee to the Bond Trustee. The annual fee covers the work related to the establishing and the supervision of the bond issue according to the bond agreement.

The schedule of fees for municipalities or financial institutions is shown in the tables below. For other issuers the fee is set by special agreement within the intervals in the tables below on the basis of a specific assessment of each case.

The annual fee will be adjusted annually in accordance with the relevant consumer price index. There are standard prices for the preparation of additional agreements for tranches or tap issues. The Issuer will be charged separately for extraordinary work, based on the trustee’s costs and on an hourly-rate basis for each case. A standard fee will also be charged for bondholders’ meetings. A break-fee is demanded if the bonds are redeemed before the ordinary due date. Such compensation would typically be equal to one year’s trustee fee.

 

The financial sector - standard bond agreement, covered bonds (OMF)

No. of running issues

< 100 million 

>= NOK 100 million

0-5

20 000

31 000

6-10

17 000

26 000

11-25

16 000

20 000

> 25

15 000

15 000

> 50*

 10 000

 10 000

 * FIX or FRN interest standard loan agreements

  

Finance sector – subordinated bonds, tier 1/hybrid capital

+ 5 000 standard  loan agreements

 

Municipalities

 

 < 100 million

> =  100 million

 

20 000

25 000

 

Corporates

   

 

 

45 000 - 500 000

 

Additional fees

 

Price each

Tranche with addendum

 

from 6 000 *

Tap issue fee

 

from 6 000 *

Bondholders’ meeting

 

22 500 *

Work fee per hour

 

1 500 to 3 500

* Non-recurrent fee

 

Commercial papers (Certificates)

FIX Standard

FRN standard

                                                          

5 000 

7 000

 Negativ pledge + 2 000

 

 

 * For custom-made CD agreements, the trustee fee will be determined on an individual basis.

 

All figures in NOK