Collector Bank issues senior unsecured bond of SEK 500m
As part of Collector’s focus on increased diversification of funding, Collector’s subsidiary Collector Bank AB has issued a senior unsecured bond of SEK 500 million.
Collector Bank AB, a wholly owned subsidiary of Collector AB, has issued a senior unsecured bond of SEK 500 million in the Nordic market. The bond has a two-year-tenor, with maturity in September 2023, and will be listed on Nasdaq Stockholm.
The bond was issued under Collector Bank’s MTN programme, with a total frame of SEK 5 billion, and will carry a variable interest of 3m STIBOR +1.20%.
Collector’s primary source of financing is deposits and borrowings from the public. Increased diversification of funding is a strategic focus area for Collector. Increasing the activity on the bond and commercial paper markets is part of this strategy. Following this strategy, Collector Bank received an investment grade rating from the rating institute Nordic Credit Rating (NCR) with the rating BBB-, stable outlook, in March 2021. Collector Bank also issued a senior unsecured bond of SEK 400 million in May 2021 with a two-year-tenor, carrying a variable interest of 3m STIBOR +1.35%.
– We are pleased with the market’s positive reception of both this transaction and the transaction we made earlier this year in May. Increased diversification of funding is a strategic focus area for Collector, and we have now taken yet another step towards becoming a frequent issuer on the Nordic debt market, says Peter Olsson, CFO of Collector.
Nordea acted as financial advisor in connection with the transaction.
For more information, please contact:
Peter Olsson, CFO
Phone: +46 73 712 04 46
Madeleine Mörch, Finance & IR Manager
Phone: +46 73 712 04 52
About Collector bank
Collector Bank is a niche bank that offers cost-effective and innovative financial solutions to private and corporate customers. Innovation is one of our major drivers. Read more about Collector