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Regulatory press release

Nordax Bank AB: Svensk Hypotekspension examines the possibility to issue mortgage backed notes

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Svensk Hypotekspension was acquired by Nordax Bank AB (publ) in January 2019. Svensk Hypotekspension AB has originated equity release mortgages since 2005 and the planned issuance represents the third publicly offered mortgage backed transaction from Svensk Hypotekspension. Equity release mortgages are loans for seniors, secured by real estate, second homes or cooperative flats, with quarterly accumulating interest until the borrower chooses to redeem early, moves permanently from the property or deceases. The timing of interest payments and repayment of principal on the notes is dependent on the cash flow from the portfolio, which has been assessed by Fitch. The transaction proceeds will be used to further strengthen the funding position of Svensk Hypotekspension AB.

 

For further information, please contact:

Svensk Hypotekspension:
Anders Larsson, CEO 
anders.larsson@hypotekspension.se, +4620 586 160 (http://tel:+4620586160)

 

Nordax Bank:
Arash Bigloo, Head of Treasury
arash.bigloo@nordax.se, +46738 660 662

 

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 195.000 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 30 June 2019 the lending to the public amounted to 22.4 bn SEK and deposits from the public amounted to 17.7 bn SEK. Read more about Nordax on www.nordaxgroup.com

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