June 11, 2018 - Assignment

Divestment of Svensk Hypotekspension AB to Nordax Bank AB (publ)

The shareholders of Svensk Hypotekspension have agreed to divest their shares in the company to Nordax Bank. The transaction is subject to relevant regulatory approvals.  

Svensk Hypotekspension is the only provider of equity release mortgages to elderly in Sweden. Svensk Hypotekspension has a loan portfolio of SEK 3.6 billion in equity release mortgages and each loan has a no-negative-equity guarantee, meaning that a customer’s liability toward Svensk Hypotekspension never can exceed the value of the pledged asset. Nordax Bank is a Swedish niche bank active within the consumer finance business. Nordax Bank has a loan portfolio of SEK 13.5 billion in consumer finance business lines, such as mortgage loans and direct loans. 

Svensk Hypotekspension’s shareholders are represented by Mannheimer Swartling in the transaction.