The notes will have a perpetual maturity with the first call option after five years. The expected transaction size is SEK 300 million. Investor meetings are planned to take place between 6–7 February 2023, and the transaction is expected to take place shortly after completed meetings with investors, subject to market conditions.
The notes have been designed so to fulfil the requirements for being both Additional Tier 1 capital (AT1) under the capital requirements regulation (CRR) as well as Tier 2 capital under the Solvency II regulation. The issuance of the notes provides Nordnet with the possibility to optimize its long-term capital structure with regard to the regulatory capital and solvency requirements, and will strengthen both Nordnet’s Tier 1 capital ratio and solvency ratio as well as the total capital ratio.
Nordea acts as bookrunner and Gernandt & Danielsson as legal counsel in relation to the contemplated issuance of notes.