Note 28 – Funding
| Group | ||
| SEK m | 31 Dec 2021 | 31 dec 2020 |
| Deposits from the public | 18,169 | 17,928 |
| Senior debt | 4,605 | 5,959 |
| Secured debt | 455 | 396 |
| Total issued securities | 5,059 | 6,355 |
| Subordinated debt | 837 | 821 |
| Total interest-bearing debt | 24,065 | 25,104 |
Terms and conditions and repayment periods
| 31 dec 2021 | 31 dec 2020 | ||||||
| SEK m | Currency | Nominal interest rate | Maturity | Nominal value | Carrying amount | Nominal value | Carrying amount |
| Deposits from the public | SEK | 0.50% - 2.00% | 2022-2024 | 8,459 | 8,541 | 10,451 | 10,552 |
| Deposits from the public | EUR | 0.15% - 2.00% | 2022-2026 | 9,519 | 9,564 | 7,329 | 7,376 |
| Deposits from the public | GBP | 0.35% - 2.05% | 2022-2026 | 63 | 63 | - | - |
| Senior debt | EUR | 1.125% | 2021 | - | - | 1,484 | 1,476 |
| Senior debt | EUR | 2.275% | 2023 | 2,557 | 2,566 | 2,509 | 2,485 |
| Senior debt | EUR | 3.375% | 2024 | 2,045 | 2,039 | 2,008 | 1,998 |
| Secured debt | EUR | 8.0%-15.0% | 2034 | 437 | 455 | 404 | 396 |
| Subordinated debt | EUR | 3.875% | 2027 | 818 | 837 | 802 | 821 |
| Total interest-bearing liabilities | 23,898 | 24,065 | 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.