En De
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NOBA

Private Placement
2024 Sweden

NOBA

Private Placement
2024 Sweden

PCP underwrites EUR 40 million tier 2 private placement with leading nordic specialist bank NOBA

We are pleased to announce a significant financial engagement with NOBA, a market leader in the Nordic banking sector. In a strategic move, PCP signed a Tier 2 private placement agreement with NOBA, amounting to EUR 40 million, at a rate of EURIBOR 3 months + 7.00% and settlement in January 2024.

NOBA, known for its comprehensive financial services through its three brands – Nordax Bank, Bank Norwegian, and Svensk Hypotekspension – serves around 2 million customers across the Nordics. The bank’s mission is to enable healthier finances for more people, reflecting a commitment to sustainability and long-term growth.

Ulf Hamberg, Managing Director at PCP, commented, ”We have a longstanding relationship with NOBA and have been monitoring the company’s progress and are impressed by its innovative approach to banking and its commitment to customer-centric services. This investment is aligned with our strategy to support businesses with strong and unique market positions and ownership. We are excited to be part of NOBA’s journey and to contribute to its continued growth and mission of enabling healthier finances for more people.”

This investment by PCP is a testament to its confidence in NOBA’s diversified offerings, robust capitalization, and the seasoned expertise of its management team. The funds from this private placement will contribute to bolstering NOBA’s total capital ratio, supporting the bank’s strategic initiatives and its mission to provide sustainable and customer-centric financial solutions.

January, 2024