Resurs Bank issues SEK 300 million of subordinated Tier 2 bonds
Resurs Bank AB (publ), a wholly owned subsidiary of Resurs Holding, has issued SEK 300 million of subordinated Tier 2 bonds in the Nordic market. The subordinated Tier 2 bonds are issued under Resurs Bank’s MTN programme with a total frame of SEK 8 billion and with a final maturity in March 2029 and paying a coupon of 3m Stibor +4.25%. Swedbank acted as bookrunner in the transaction.
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.9 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of 2018, the Group had 765 employees and a loan portfolio of SEK 28 billion. Resurs is listed on Nasdaq Stockholm.