Vinge Logotype
Svenska English 18D7E0DE-2035-40AE-A740-8F45A358A8F4 Login
  1. Home
  2. Mandates
  3. 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
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 Banking and Finance

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. 

 

Related

Vinge advises Humana in its acquisition of Team Olivia Norge AS

Humana Group ("Humana") strengthens its offering of high-quality care services in Norway as Human Care Holding AS ("Humana Norway") has entered into an agreement to acquire Team Olivia Norge AS for a purchase price of million SEK 341 on a cash- and debt-free basis.
May 17, 2024

Vinge advises Stendörren in connection with issuance of green capital securities and tender offer

 Vinge has advised Stendörren Fastigheter AB in connection with its issuance of green subordinated and perpetual capital securities in an amount of SEK 300 million (within a framework of SEK 400 million) and its parallel tender offer in respect of its previously issued capital securities.
May 17, 2024

Vinge has advised Stockholm Exergi AB in connection with the conclusion of a permanent carbon removal agreement with Microsoft, the world’s largest to date

 Vinge has advised Stockholm Exergi in connection with the conclusion of a permanent carbon removal agreement with Microsoft, covering 3.33 million tonnes of permanent carbon removals from bio-energy with carbon capture and storage (BECCS) at Värtan, Stockholm. The agreement is the world’s largest permanent carbon removal deal to date.
May 16, 2024