Vinge has advised Borgo AB (publ) in connection with its successful issuance of primary capital instruments (so called “AT1 bonds”) in the amount of SEK 350 million with a floating rate coupon of 3-month STIBOR + 390 basis points.
The AT1 bonds are perpetual with a first call option after five years, and they are intended to be admitted to trading on Nasdaq Stockholm. SEB acted as sole manager in connection with the bond issuance.
Borgo is a Swedish mortgage institution (Credit Market Company) which is under the supervision of the Swedish FSA. Borgo offers mortgages to the prime segment in Sweden as well as savings accounts. Mortgages are distributed by ICA Banken, Ikano, Söderberg & Partners, Sparbanken Syd, Lån & Spar Bank and Ålandsbanken. As a modern, highly digitalised player, Borgo aims to offer better mortgage terms to more people in an efficient, transparent and sustainable way.
Vinge’s team consisted of Mikael Ståhl, Lionardo Ojeda, Caroline Krassén, August Ahlin and Nilufer Nouri.
