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Nordax Bank announces successful issue of SEK500m of senior unsecured bonds.

NORDIC BUSINESS REPORT-March 11, 2016-Nordax Bank announces successful issue of SEK500m of senior unsecured bonds

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Nordax Bank AB (STO:NDA) (OSE:NODA )(HEX:NDA1V) (CSE:NDA), a subsidiary of Nordax Group AB, announced on Thursday the successful issuance of SEK500,000,000 of senior unsecured bonds.

According to the company, this issue, based on a strong demand from Nordic investors, further strengthens its diversified funding base.

These bonds have a final maturity of 16 March 2019 and the interest rate is three months Stibor +240 bps.

Also, Nordax has an outstanding senior unsecured bond that matures on 21 March 2016 and once that has matured Nordax's outstanding debt instruments will include SEK250,000,000 of Tier 2 Capital, the aforementioned SEK500,000,000 in senior unsecured bonds, as well as asset backed securities issued by subsidiaries of the Nordax Group.

Nordax is a leading niche bank in the Nordic region providing personal loans and deposit accounts to customers in Sweden, Norway, Finland, Denmark and Germany.

(EUR1.00=SEK9.35)

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Publication:Nordic Business Report
Date:Mar 11, 2016
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