G&D advises in Egidaco’s issue of bond with a value of SEK 550 million
The Cypriot company Egidaco Investments PLC has issued Swedish bonds with a value of SEK 550 million. The issue was a private placement directed to Swedish and foreign institutional investors. The net proceeds of the bond issue will be used to finance an intercompany loan to Egidaco’s wholly-owned Russian subsidiary, the Closed Joint Stock Company “Tinkoff Credit Systems” Bank (“TCS”), which will be used for general corporate purposes. TCS’s principal business activity is to provide consumer banking products and services to customers in the Russian Federation, primarily credit card loans and, more recently, retail deposits. The bond will subsequently be listed at OMX Stockholm.
Gernandt & Danielsson has advised Pareto Öhman AB (previously E. Öhman J:or Fondkommission AB) and the company, with a team primarily consisting of the partner Mikael Borg and the associates Sara Brunström, Louise Ahlén and Fredrik Eklund.