Cirio advises SaveLend Group on acquisition and issue of convertibles

Cirio has acted as legal adviser to SaveLend Group AB in connection with the conditional acquisition by its subsidiary SBL Finans AB (publ) of Refino AB’s consolidated loan business, and in connection with a directed issue of convertibles of SEK 14 million.

The acquisition involves SBL Finans taking over Refino’s consumer consolidation loan business in its entirety, including technology, personnel and existing customer and supplier relationships, with transfer of operations on 1 August 2026. No cash consideration is payable upon completion; instead, a running royalty will be paid to Refino equal to 45% of the profit of the business before tax over the period 2026–2032.

As part of the same transaction, SaveLend Group’s board of directors resolved on a directed issue of convertibles totalling SEK 14 million to Refino and two other investors. Mandatory conversion into ordinary shares will occur upon SBL Finans obtaining its credit market company license.

SaveLend Group AB is a fintech company with operations in Sweden and Finland whose savings platform SaveLend enables investors to earn returns by investing in credits such as corporate, real estate and consumer loans as well as invoice purchases. The company’s shares are listed on Nasdaq First North Growth Market.

Cirio’s team consisted of Anders Moberg (private M&A), Maria Arnoldsson (Capital Markets and Public M&A) and Rikard Kåresen (Capital Markets and Public M&A).