Vinge has advised Northmill Group AB in connection with its issuance of SEK 275 million primary capital instruments (so called “AT1 bonds”) with a floating rate interest of 3-month STIBOR + 690 basis points. The AT1 bonds are perpetual with a first call option after five years and are intended to be admitted to trading on Nasdaq Transfer Market and, subsequently, on Nasdaq Stockholm.
The issuance represents Northmill’s first AT1 bond and strengthens its capital base whilst laying the foundation for continued profitable growth. Northmill Group AB is the parent company of Northmill Bank, a Nordic digital challenger bank providing financial services for both consumer and business customers.
Arctic Securities AS, filial Sverige and Nordea Bank Abp acted as joint bookrunners in connection with the bond issuance.
Vinge’s team consisted of Albert Wållgren, Lionardo Ojeda, Nilufer Nouri and Jakob Rehnström.
