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Vinge advises Borgo in connection with its acquisition of a mortgage loan portfolio, assumption of covered bonds and establishment of its commercial paper programme

February 15, 2022 Banking and Finance M&A

Vinge has advised Borgo AB (publ) (“Borgo”) in connection with its acquisition of the majority of Ålandsbanken’s Swedish mortgage loan portfolio of SEK 10,5 billion and its parallel assumption of Ålandsbanken’s issued covered bonds of SEK 7,5 billion. Vinge has also advised Borgo with the establishment of its SEK 10 billion commercial paper programme, under which Borgo may issue commercial papers denominated in either SEK or EUR.

The acquisition of the mortgage loan portfolio is a continuation of the collaboration that began in the autumn of 2019 between ICA Banken, Ikano Bank, Söderberg & Partners, Ålandsbanken and Borgo. As part of the collaboration, Borgo will act as lender, and ICA Banken, Ikano Bank, Söderberg & Partners, Ålandsbanken and Sparbanken Syd will act as credit intermediaries, mediating mortgage loans under their own brands and with their own offers.

Vinge’s team mainly consisted of Johan Larsson, Joacim Rydegård and Carl Fredrik Wachtmeister (M&A), Mikael Ståhl, Lionardo Ojeda, Axel Jansson and Felix Möller (Banking and Finance) and Caroline Krassén (Financial Services).

 

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