Kvika has today successfully completed the issuance of Additional Tier 1 (AT1) notes. The issuance is a key component of the Bank's capital optimisation, as presented alongside the Bank's year-end results published in February. This is the first time Kvika has issued AT1 notes and the issuance marks a milestone for the Bank, supporting its continued growth and profitability. The issuance was oversubscribed and placed with investors in Scandinavia.
The total issuance amount is SEK 300 million. The notes are perpetual with no fixed maturity and are callable at the issuer's option after 5 years. They pay a coupon of 425 basis points over three-month Swedish interbank rates (STIBOR). The notes feature a temporary write-down structure with a Common Equity Tier 1 (CET1) trigger of 5.125%.
The bonds will be listed on Nasdaq Stockholm.
The Joint Lead Managers are Nordea bank Abp and Swedbank AB.
Further information please contact Kvika's investor relations, ir@kvika.is.
