Svensk Hypotekspension Fond 3 AB (publ) issues mortgage backed notes for SEK 2 billion
Mannheimer Swartling has assisted Svensk Hypotekspension Fond 3 AB (publ) in its issuance of SEK 2 billion mortgage backed notes at a fixed interest rate. The notes are backed by a portfolio of so called equity release or reverse mortgage loans under the trademark Hypotekspension® initially granted by Svensk Hypotekspension AB, the parent company of Svensk Hypotekspension Fond 3 AB (publ). The notes have been assigned an Asf rating by Fitch Ratings Ltd and will be listed on NASDAQ Stockholm. The documentation is governed by Swedish law.
Svensk Hypotekspension has successfully offered Hypotekspension® since its start in 2005. The mortgages are loans for seniors 60+, secured by real property or cooperative flats, with interest accumulating until the borrower moves from the property or passes away.
Mannheimer Swartling’s team was led by André Andersson, primarily assisted by Hans Abrahamsson and Adam Rångemyr.