Carnegie acted as joint bookrunner in Nordax’s SEK 350 million subordinated Tier 2 bond issue

Nordax Bank AB (publ) has successfully issued a new subordinated Tier 2 bond of SEK 350 million under the newly established MTN program with a total framework amount of SEK 3 billion. The transaction was very well received by Nordic institutional investors and closed heavily oversubscribed on the back of a 2-day roadshow. The bonds carry a floating rate coupon of 3 month Stibor + 4.15 per cent per annum, due May 2029 with a first possible call date in 2024.

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.

Carnegie acted as joint bookrunner.