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
(C)2016 M2 COMMUNICATIONS http://www.m2.com
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.
((Comments on this story may be sent to firstname.lastname@example.org))