Nordax Bank (“Nordax”) has successfully issued 250 MSEK of Tier 2
capital
further strengthening its capital structure.
Based on strong investor
demand mainly in the Nordic region, Nordax has issued
250 MSEK at an attractive
price. The transaction enables Nordax to call
previously entered Tier 2 capital
arrangements, amounting to 200 MSEK. Once the
refinancing transaction is
completed, Nordax’s outstanding notes will include
250 MSEK in Tier 2 capital,
500 MSEK in senior unsecured bonds as well as 3,110
MSEK in asset backed
securities (ABS).

Morten Falch CEO comments: “We are pleased with the level of
interest among
investors and the refinancing of Tier 2 notes is in line with
Nordax’s funding
strategy. We are unique among peers in the Nordic market as we
have a
diversified funding structure based on four pillars; deposits, unsecured
bonds,
ABS and warehouse funding. We continue to take a conservative approach
to
liquidity risk and continuously keep 40 per cent of our deposits as
liquidity
reserves. The new tier two capital will help support our growth
efforts.”

Transaction details:

Issuer: Nordax Bank AB (Publ)

Face value: SEK
250 000 000

Instrument: Subordinated Tier 2 Notes

Ranking:
Subordinated

Maturity: Final maturity 18 March 2025

Interest Rate: 3 months
Stibor +5.75%

Call Rights: After 5 years, i.e. 18 March 2020

Joint book
runners: Danske Bank and Carnegie

Contacts

For more information, please
contact

Morten Falch, CEO, +46 8 690 15 07, morten.falch@nordax.se

Johanna
Clason, Treasurer, +46 8 690 18 68, johanna.clason@nordax.se

Camilla Wirth,
CFO, +46 8 690 15 07, camilla.wirth@nordax.se

Åse Lindskog, Media and Investor
Relations, +46 730 24 48 72,
ase.lindskog@nordax.se

About Nordax

Nordax is
one of the leading niche banks in the Nordic region providing unsecure
consumer
loans and deposits to about 100,000 customers in Sweden, Norway,
Finland,
Denmark and Germany. Nordax employ about 200 people, all working in one
office
in Stockholm. Nordax was founded by five entrepreneurs with extensive
risk
management experience and over the course of ten years the Group has
developed
a sound, thorough and data driven underwriting process. Nordax’s
customers are
financially stable people in the prime of life. Through a
centralized and
highly scalable platform, Nordax is on a journey to become one
of the leading
niche banks in Northern Europe. As of December 31, 2014 lending
to the general
public amounted to 10.0bn SEK and deposits from customers to
6.5bn SEK. Nordax
is supervised by the Swedish Financial Supervisory Authority
since 2004 and
deposits are covered by the Swedish deposit guarantee scheme.
Read more on
www.nordax.se.

Nordax Bank AB (publ) announces this information in accordance
with the
Securities Market Act and/or the Act on Trading in Financial
Instruments. This
information was submitted for announcement on March 12, 2015
at 08.00 am CET.