Mandate

Vinge advised Lendify in connection with new financing and redemption of bonds

February 12, 2019

Lendify AB (“Lendify”), an online lender and one of Sweden’s most notable challengers in the banking sector, has secured new financing of up to SEK 1.000.000.000 from a large Swedish institution for the purpose of further financing its lending operations.

In connection with the new financing, Lendify’s two wholly owned subsidiaries, Lendify Sweden 1 AB and Lendify Sweden 2 AB, redeemed and de-listed their outstanding bonds from the Debt Securities list at the Nordic Derivatives Exchange.

Together with the management of the company, the institutional investor, the arranger and their legal advisors, Vinge has acted for Lendify in the structuring, documenting and execution of the transaction.

Vinge’s team mainly consisted of partner Albert Wållgren, associates Sebastian Frisk, Lionardo Ojeda and Axel Jansson (Banking and Finance) and partner Emma Stuart-Beck and associates Malin Haag and Caroline Krassén (Financial Services).

New statute prohibits unfair terms and conditions and practices in conjunction with the purchase of agricultural and food products

The so-called UTP Act prohibits buyers from using certain terms and conditions and practices against suppliers of agricultural and food products. The Swedish Competition Authority exercises supervision and can, among other things, carry out unannounced inspections and order individual to attend formal interviews. In conjunction with violations, sanctions such as injunctions subject to a default fine or a sanction fee of up to one per cent of the buyer’s annual turnover can be imposed. The UTP Act will enter into force on 1 November 2021 and will also be applicable to contracts which are entered into prior to this date.
October 05, 2021

Vinge employs additional antitrust economists to further strengthen its practice

We welcome Adam Löfquist and Carl Widstrand to our EU, Competition & Regulatory practice group.
September 30, 2021

European Commission provides sanctions compliance guidance

The European Commission has recently issued three opinions regarding the interpretation of asset freeze provisions in certain sanctions legislation pertaining to Central African Republic, Ukraine, Libya and Syria. The opinions are also of relevance for other sanctions regimes which provide for the same or similar restrictions. Therefore, their practical relevance goes far beyond the sanctions regimes in the context of which they were issued and they therefore provide for helpful guidance regarding the required thresholds for sanctions compliance generally.
September 20, 2021