Mandate Vinge has advised Lendify in connection with a Swedish securitisation

May 22, 2017

Lendify AB (”Lendify”), a P2P-lending platform, has issued SEK 200,000,000 bonds on 30 May 2017 through its wholly-owned subsidiary Lendify Sweden 1 AB (publ).

The bonds have a tenor of three years and an annual interest rate of three-months Stibor + 5 %. The bonds are intended to be listed on the regulated market NDX, operated by Nordic Growth Market AB.

The bonds are backed by a portfolio of promissory notes issued by consumers in Sweden in favour of Lendify. The payment of interest and repayment of principal on the bonds are based on the cashflow from the portfolio. The entire documentation is governed by Swedish law and the collateral is held by Intertrust (Sweden) AB, who is also acting as agent for the bondholders.

Together with the management of the company, Carnegie Investment Bank AB (publ) as arranger and issuing agent and its legal advisors, Vinge acted for Lendify in the structuring and documentation of the transaction. Vinge’s team consisted of Jonas Johansson, Emma Stuart-Beck, Albert Wållgren, Louise Nordkvist and André Isacson.

Jerker Kjellander is a new partner in Skåne

Dispute resolution expert Jerker Kjellander has been elected as a partner in Vinge’s Skåne office.
November 20, 2020

Amendments to the Swedish Competition Act provide extended powers for the Swedish Competition Authority

Update 13 November 2020. Early in 2021, the Swedish Competition Act (2008: 579) will be amended in several important respects. The background to the amendments is Directive (EU) 2019/1 of the European Parliament and of the Council, which aims to harmonize the investigative and sanctioning powers of the European competition authorities in their enforcement of the EU competition rules. Undertakings active in Sweden will be affected by the amendments in several ways.
October 12, 2020

Vinge contributes to IUMI Eye

International Union of Marine Insurers (IUMI) is preparing for its first web based conference – Stockholm 2020 – of which Vinge is a proud sponsor. In the latest edition of IUMI Eye, published just in time for the conference, Vinge’s Paula Bäckdén and Sweden Insurance’s senior advisor Mikaela Tamm discuss the implications of waiving liability limitations.
September 15, 2020