21 December 2020

Gernandt & Danielsson advises in TF Bank’s issue of Tier 2 bonds and early redemption of outstanding Tier 2 bonds

Gernandt & Danielsson advises TF Bank AB (publ) in its issue of subordinated Tier 2 bonds in a total amount of SEK 100 million with final maturity in December 2030 and first call date in December 2025. The net proceeds will be used towards general corporate purposes, including the early redemption of the company’s outstanding subordinated Tier 2 bonds, in accordance with the Swedish Financial Supervisory Authority’s consent to such redemption following the company’s application for approval. TF Bank intends to apply for admission of trading of the new Tier 2 bonds at the corporate bond list of Nasdaq Stockholm.

TF Bank is an internet-based niche bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. Deposit and lending activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany and Austria through branches and on cross-border basis. TF Bank’s shares are listed on Nasdaq Stockholm.

Gernandt & Danielsson has advised the company and its financial advisor ABG Sundal Collier with a team consisting of Partner Mikael Borg, Senior Associates Mikael Bolling and Maria Klaesson, Associates Camilla Hedner and Jonathan Antonsson (Debt Capital Markets) as well as Partner Nils Unckel and Associate Anna Kullander (Regulatory).

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