Swedbank and LFG note tackles credit concentration risk
Swedbank and Luxembourg Financial Group have listed a protected note in Sweden that offers local investors their first taste of a secured issuer. Luxembourg-based Taurus is the issuer and the investment is in Spax Europe Trygghet bonds.
Swedbank and Luxembourg Financial Group (LFG) have produced a protected note that embraces the idea of a secured issuer. The Spax Europe Trygghet bonds have raised Skr320 million (€37 million) and represent the first time that a listed secured structured note has been passported from Luxembourg and listed on OMX-Nasdaq for public distribution in Sweden.
"Many structured products distributors have been struggling for a long time with credit concentration risks in the portfolios of their clients
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