Nordax Bank issues SEK 350 millions of subordinated Tier 2 bonds
Nordax Bank AB (publ) has successfully issued SEK 350 million of subordinated Tier 2 bonds. The offer attracted strong demand from Nordic institutional investors. The subordinated bonds are issued under Nordax Bank’s newly established MTN programme with a total framework amount of SEK 3 billion, a 10 year tenor with first call after 5 years paying a coupon of 3m Stibor + 4,15%.
Carnegie and Danske Bank acted as joint bookrunners in the transaction.
For further information, please contact:
Andreas Frid, Head of Marketing & Communication, tel: +46 705 29 08 00 or email@example.com
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