EN 
SE 
Stockholm 20 October 2015 – Skandinaviska Kreditfonden AB has announced as of 31 August 2015 that they are launching their first AIF fund, Scandinavian Credit Fund I AB (publ), (hereinafter referred to as the Fund), in which the public and institutional investors are offered to subscribe to Vinstandelslån for a total a maximum of SEK 500 million in a first step. The prospectus was approved and registered on 28 August 2015 by the Financial Supervisory Authority. The profit share loans will, after completed issue, be admitted to trading on the Nordic Derivatives Exchange (NDX) (Since 2020-05-04 renamed to Main Regulated), part of Nordic Growth Market NGM AB (NGM).
The present offer in brief
- The issue includes 5,000 new Profit Share Loans in an initial closing on 1 November.
- Subscription amount amounts to SEK 500 million.
- Subscription takes place for trade items of SEK 100,000. (Nominally at SEK 100 x 1000 Profit share loans)
- The subscription period runs from 09/01/2015 to 12/20/2015
- In the event of oversubscription, the board will make a decision on allocation taking into account the time of payment of the subscription proceeds, the number of profit-sharing loans to which the notification relates and the time of receipt of the correctly completed notification form.
Scandinavian Credit Fund I (publ)
The fund's business concept is to conduct short-term direct lending to small and medium-sized companies. The fund intends to offer investors who are interested in the fund's investment strategy to sign up for Profit Share Loans. Investors in Vinstandelslån can be private individuals, companies or professional investors.
The fact that most investment options in the market are adapted to the needs of the normal saver has led to several interesting investment opportunities being in practice excluded from the market for private investors, due, among other things, to high requirements for minimum investment amounts and lock-in effects. The fund's ambition is therefore to create accessibility by listing the Vinstandelslån on a regulated market, NGM-NDX (Since 2020-05-04 renamed to Main Regulated).
The fund intends to offer direct lending to achieve the goal of a high risk-adjusted return with low or no correlation to stock, bond and commodity markets. The fund will use derivatives to manage unwanted market risks that may arise when investing in various instruments and to increase the fund's return. The fund also intends to hedge investments made in currencies other than the Swedish krona
The fund's overall goal is to create long-term value growth for the investors that is equal to, or better than, 6-10 percent per year with low volatility.
The fund assesses that the potential of the product is great against the background of great demand for short- and medium-term loans and credits to companies, as well as continued caution from other players when it comes to providing corresponding credits and loans.
After this first issue of Vinstandelslån, four issues per year will be carried out at the beginning of each quarter. At each issue, the fund will be open for redemption. In addition, trading takes place via the NGM-NDX marketplace through the fund's Market Maker.
The fund's strategic goal is to increase the loaned capital to SEK 3,000,000,000 over a three to five year period.
Information
Newly issued Vinstandellan is expected to be admitted to trading on NDX during November 2015 (Since 2020-05-04 renamed to Main Regulated). The company has engaged Mangold Fondkommission AB as liquidity guarantor for the Vinstandelslån. Full conditions for the Offer can be seen in the Prospectus which has been drawn up by the Company and which has been approved by the Financial Supervisory Authority as of 28 August 2015.
In connection with the preparation of the Offer, SFM Stockholm AB has been engaged as AIF manager. Mangold Fondkommission AB has been engaged as issuing institution. PG Magnusson Advokatbyrå AB has been engaged as legal advisor. Custodian is Danske Bank A/S, Denmark, Sweden Branch. Auditor works at PwC.
Prospectus
The prospectus and the registration form are also available on the Company's website: www.kreditfonden2.wpengine.com
Subscription period: 2015-09-01 — 2015-12-20
Settlement date: 2015-12-29
For further information, please contact:
Peter Norman, CEO Skandinaviska Kreditfonden AB, tel. 0733 929 455, peter.norman@kreditfonden.se
Fredrik Sjöstrand, Portfolio Manager, tel. 070 575 75 51, fredrik.sjostrand@kreditfonden.se
About Skandinaviska Kreditfonden AB
Skandinaviska Kreditfonden AB intends to become the leading independent player in direct lending to small and medium-sized companies in Scandinavia and at the same time create unique investment products. The company's first fund is Scandinavian Credit Fund I. In the coming years, we will launch more funds for financing companies and in other areas we have identified as interesting for both borrowers and investors.