Ålandsbanken Abp announces timeline and measures in conjunction with the issuer change of covered bonds

Ålandsbanken Abp
Other information disclosed according to the rules of the Exchange
February 3, 2022 - 17.15 EET

Ålandsbanken Abp announces timeline and measures in conjunction with the issuer change of covered bonds

Ålandsbanken Abp (”Ålandsbanken”) announced on January 21, 2022 that the Board of Directors of the Bank had decided to carry out the transfer of most of the Bank’s Swedish mortgage portfolio and previously issued Swedish covered bonds to Borgo AB (publ) (“Borgo”). This transaction is subject to approval by the Financial Supervisory Authority of Finland and its counterpart in Sweden.

The covered bonds issued by Ålandsbanken – SEK 2,000,000,000 with maturity May 12, 2025, ISIN: SE0013359627 and SEK 5,500,000,000 with maturity September 10, 2026, ISIN: SE0013360419 (together “Bonds”) – will change issuer in conjunction with the transfer from Ålandsbanken under Finnish mortgage banking legislation to Borgo as issuer under Swedish mortgage banking legislation.

The change of issuer entails that the Bonds will obtain new ISIN and trading codes. Due to technical reasons at Euroclear Sweden AB, the Bonds can’t be cleared and settled on February 11, 2022, thus February 10, 2022 will be the last date for clearing and settlement of the Bonds with their current ISIN codes. February 14, 2022 will be the first clearing and settlement date of the Bonds with their new ISIN codes. Trading will not be suspended because of the change of issuer.

The Bond SEK 2,000,000,000 with maturity May 12, 2025, ISIN: SE0013359627 has its following coupon date February 14, 2022. Coupon will be paid by Ålandsbanken. 

For questions relating to the change of issuer, please contact:

ÅLANDSBANKEN ABP

Maria Rissanen
Head of Group Treasury
e-mail: maria.rissanen@alandsbanken.fi
tel. +358 204 293 683

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