Nordic Whisky Capital has, through its subsidiary Svensk Whiskyfinansiering AB, established a bond programme in an aggregate amount of SEK 50 million. The purpose of the bond programme is to finance the storage of whisky in casks. The bonds are issued by a special purpose company established solely for the purpose of owning the financed whisky during the tenor of the bonds. Ownership to the whisky is secured through a registered sale (lösöreköp). In addition, the bondholders have the benefit of a pledge over the shares in the company. Intertrust Sweden AB is acting as agent for the bondholders.
The initial issue of bond is for a maximum amount of SEK 20 million and carries interest at five per cent per annum, with an additional bonus interest of two per cent payable when the bonds are redeemed in 2023.
Mannheimer Swartling has advised Nordic Whisky Capital in connection with the establishment of the bond programme and the first issue thereunder.