-- Daniel O’Leary
Svensk Hypotekspension, a Swedish-based lender, has placed its SEK900 million ($123.8 million) SH Fond 1 AB (publ) with a club of private Swedish investors at par, according to a banking official close to the deal.
The notes represent Sweden’s first securitization of reverse equity release mortgages made to borrowers over 60 years of age. The deal was announced in August (TS, 18/08/10). Because the loans do not require the borrower to repay the interest or principal in a timely manner the notes do not have a regular interest payment date. ....