Nordax Bank AB examines the possibility to issue subordinated Tier 2 bonds
Nordax Bank AB (publ) has mandated Carnegie and Danske Bank to arrange a series of fixed income meetings on May 20-21 in order to investigate the possibility to issue subordinated Tier 2 bonds in SEK.
The bonds will have a tenor of 10 years with a first call date after five years and an expected deal size of SEK 350 million, which will strengthen Nordax capital structure further. The transaction is expected to take place in the near future, subject to market conditions.
For further information, please contact:
Andreas Frid, Head of Marketing & Communication, tel: +46 705 29 08 00 or firstname.lastname@example.org
About Nordax Bank
Nordax Bank is a leading specialistbank in Northern Europe owned by Nordic Capital Fund VIII and Sampo. The client base today consists of 185.000 private clients in Sweden, Norway, Finland and Germany. We are a specialistbank who through responsible lending help people make informed decisions for a life they can afford. We are a flexible complement to the major banks. Instead of quantity we have specialised in a few selected products like private loans, mortgages, equity release products and savings accounts. Since 2019 Svensk Hypotekspension, which are specialists in equity release products, is a fully-owned susbsidiary to Nordax Bank. Nordax has about 200 employees where almost all employees works from one central office in Stockholm. The credit assessment process is one of Nordax core competencies. It is thorough, sound and datadriven. Nordax customers are financially stable individuals. As of 31 March 2019 the lending to the public amounted to 20.9 bn SEK and deposits from the public amounted to 15.3 bn SEK. Read more about Nordax on www.nordaxgroup.com.