Nordax announces Asset Backed Securities transaction
Nordax Bank AB (publ), a subsidiary to Nordax Group AB (publ), and issuer Nordax Sverige 4 AB (publ),
a subsidiary of Nordax Bank AB (publ), have mandated Citigroup as arranger for “Scandinavian Consumer
Loans V”, a SEK denominated Asset Backed Securities (“ABS”) transaction backed by a portfolio of Swedish unsecured consumer loans to be launched in the near future, subject to market conditions.
For further information please contact:
Johanna Clason, Treasurer, Nordax
Tel: + 46 8 690 18 68
Nordax is a leading niche bank in the Nordic region providing unsecured consumer loans and deposit accounts to about 100,000 customers in Sweden, Norway, Finland, Denmark and Germany. Nordax employs about 200 people, all working in its office in Stockholm. Nordax was founded by six entrepreneurs with extensive risk management experience. The underwriting process is Nordax’s core competency; it is thorough, sound and data driven. Nordax’s customers are financially stable people in the prime of life. As of 30 September 2015 lending to the general public amounted to SEK 10.6 billion and deposits amounted to SEK 6.3 billion. Nordax has been supervised by the Swedish Financial Supervisory Authority since 2004 and deposits are covered by the Swedish deposit guarantee scheme. Read more on www.nordaxgroup.com.
Nordax Group AB (publ) announces this information in accordance with the Securities Market Act and/or the Act on Trading in Financial Instruments and/or the Nasdaq Stockholm Rule Book. This information was submitted for announcement on 26 October 2015 at 11.00am CET.