Note 28 – Funding 

SEK m31 Dec 202131 dec 2020
Deposits from the public18,169 17,928
Senior debt4,605 5,959
Secured debt455 396
Total issued securities5,059 6,355
Subordinated debt837 821
Total interest-bearing debt24,065 25,104

Terms and conditions and repayment periods 

    31 dec 202131 dec 2020
SEK mCurrencyNominal interest rateMaturityNominal valueCarrying amountNominal valueCarrying amount
Deposits from the publicSEK0.50% - 2.00%2022-20248,4598,54110,45110,552
Deposits from the publicEUR0.15% - 2.00%2022-20269,5199,564 7,3297,376
Deposits from the publicGBP0.35% - 2.05%2022-20266363--
Senior debtEUR1.125%2021-- 1,4841,476
Senior debtEUR2.275%20232,5572,566 2,5092,485
Senior debtEUR3.375%20242,0452,0392,0081,998
Secured debtEUR8.0%-15.0%2034437455 404396
Subordinated debtEUR3.875%2027818837 802821
Total interest-bearing liabilities   23,89824,065 24,987 25,104

Retail funding

Deposits from the public

Hoist Finance AB (publ) has offered deposits for retail customers and corporates in Sweden since 2009 under the HoistSpar brand, where customers can save up to SEK 1,050,000. A deposit programme was established in Germany in 2017, with customers allowed to save up to EUR 95,000. In June 2021 a new deposit programme was established in United Kingdom, with customers allowed to save up to GBP 75,000. All deposit products offer both current account and fixed-term deposits, with the majority (99 per cent) of all deposits covered by the Swedish deposit guarantee. At year-end 2021, Hoist Finance AB (publ) had SEK 4,766m and SEK 3,775m in current account and fixed-term deposits in SEK, respectively, and SEK 2,363m and SEK 7,156m in current account and fixed-term deposits in EUR, respectively, and SEK 8m and SEK 55m in current account and fixed-term deposits in GBP, respectively.

Wholesale funding

Senior debt

Hoist Finance AB (publ) issued no senior debt in 2021. EUR 200m of new debt was issued under the Company’s EMTN programme in 2020, and EUR 102m of the outstanding bond maturing in 2021 was repurchased, totalling EUR 250m. At year-end Hoist Finance AB (publ) had two outstanding senior unsecured bond loans totalling EUR 450m under the EMTN programme. There were no outstanding issues under the commercial paper programme as at year-end 2021.

Secured debt

The Italian special purpose vehicle Giove SPV S.r.l issued bonds totalling EUR 63m during the year in three tranches, secured by Italian unsecured NPLs. The two subordinated tranches in the transaction structure, corresponding to 15 per cent of total issue amount, have been 93 per cent subscribed by external investors.

Subordinated debt

Hoist Finance AB (publ) issued no subordinated debt in 2021 or 2020.

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- Annual Report 2021 -
- Årsredovisning 2021 -