06 Mar 2015
Regulatory
Nordax Bank has mandated Danske Bank and Carnegie to arrange bond investor meetings
Nordax Bank is evaluating opportunities to refinance existing Tier 2 capital in order to strengthen and optimize the solid capital structure as well as to support further business growth.
Nordax Bank has a well-diversified funding structure with 200 MSEK in Tier 2 capital, 500 MSEK in senior unsecured notes as well as asset backed securities. The existing Tier 2 capital has its first call in July 2015. Nordax Bank has mandated Danske Bank and Carnegie to arrange a series of bond investor meetings. Depending on demand and general market conditions, a SEK denominated subordinated Tier 2 bond transaction may follow in the near future. Contacts
For more information, please contact
Morten Falch, CEO, +46 8 508 808 03, morten.falch@nordax.se
Camilla Wirth, CFO, +46 8 508 808 59, camilla.wirth@nordax.se
Åse Lindskog, Media and Investor Relations, +46 730 24 48 72, ase.lindskog@nordax.se
About Nordax
Nordax is one of the leading niche banks in the Nordic region providing unsecure consumer loans and deposits to about 100,000 customers in Sweden, Norway, Finland, Denmark and Germany. Nordax employ about 200 people, all working in one office in Stockholm. Nordax was founded by five entrepreneurs with extensive risk management experience and over the course of ten years the Group has developed a sound, thorough and data driven underwriting process. Nordax’s customers are financially stable people in the prime of life. Through a centralized and highly scalable platform, Nordax is on a journey to become one of the leading niche banks in Northern Europe. As of December 31, 2014 lending to the general public amounted to 10.0bn SEK and deposits from customers to 6.5bn SEK. Nordax is supervised by the Swedish Financial Supervisory Authority since 2004 and deposits are covered by the Swedish deposit guarantee scheme. Read more on www.nordax.se.
Nordax Bank AB (publ) announces this information in accordance with the Securities Market Act and/or the Act on Trading in Financial Instruments. This information was submitted for announcement on March 6, 2015 at 08.00am CET.