Mandate

Vinge has advised the arranging banks in connection with Svenska Handelsbanken’s issue of Additional Tier 1 Capital Contingent Convertible (AT1) in the amount of MUSD 1000 

October 07, 2020

Vinge has advised Morgan Stanley & Co. International plc and the other arranging banks consisting of Barclays Bank PLC, Citigroup Global Markets Limited, J.P. Morgan Securities plc and Svenska Handelsbanken AB (publ) in respect of Swedish law in connection with Svenska Handelsbanken’s issue of Additional Tier 1 Contingent Convertible Notes (AT1 CoCo). The issuance amount is USD 1,000 million in two tranches of USD 500 million each, at interest rates of 4.375 and 4.75 per cent respectively.

The loans are perpetual without a final maturity date but the Bank has the option to redeem the loans after 6.5 years (March 2027) and 10.5 years (March 2031), and then subsequently every fifth year. The issuance of AT1 is in the form of debt instruments with automatic conversion to class A-shares, if the Bank’s common equity tier 1 ratio (CET1) falls below a certain level.
The issuance of additional AT1 capital is part of the bank’s capital planning.
The issuance was subscribed by and allotted to the joint lead managers on 6 October 2020 and have been listed on the Global Exchange Market of Euronext Dublin.
Vinge’s team consisted of responsible partner Mikael Ståhl, Paulina Malmberg and Malte St Cyr Ohm

 

REPowerEU – The European Parliament and the Council have assumed their standpoints

In May 2022, the Commission presented its proposal regarding REPowerEU. The purpose of the plan, which is based on the "Fit for 55" parcel , is to change Europe’s energy system by eliminating the EU’s dependency on Russian fossil fuels as well as to tackle the climate crisis. The European Parliament and the Council have now adopted their positions in order to incorporate the plan into the national recovery and resilience plans.
November 29, 2022

Vinge authors the Swedish contribution regarding tax disputes for The Legal 500

International companies run the risk of the erroneous management of tax issues when conducting operations in several jurisdictions. In such event, disputes can arise with the relevant tax authorities. The Legal 500 has now introduced a dedicated chapter on tax disputes in its comparative guide for the first time and Ulrika Bengtsson, advokat and counsel, has been selected to provide a clear picture of the Swedish tax litigation system.
November 09, 2022

The wide reach of the prohibition against circumventing EU sanctions

Against the background of Russia’s invasion of Ukraine, the EU has imposed a number of sanctions, which include a prohibition for companies within the EU to take certain measures in relation to Russia, as well as designated Russian people and entities on the sanction lists. Furthermore, a prohibition to circumvent the sanctions has been introduced in order to ensure that the sanctions are effective also in practice. When it comes to this circumvention prohibition, it is important to be aware of its wide interpretation, as established by the Court of Justice of the European Union and the European Commission.
October 31, 2022