By Lisa Kerner
Charlotte, N.C., Oct. 16 – Sweden’s Örebro Municipality (Örebro kommun) announced it issued its first green bond October for SEK 750 million.
The bonds were issued in two tranches, SEK 550 million of floating-rate notes with a coupon of Stibor plus 23 basis points and SEK 200 million of 1.193% fixed-rate notes.
Both tranches mature in five years.
Skandinaviska Enskilda Banken AB was the lead manager.
The money that the municipality borrows under the green bond is earmarked for environmental projects aimed at limiting the municipality's carbon footprint through renewable energy and energy efficiency, according to a news release.
The Center for International Climate and Environmental Research – Oslo (CICERO) reviewed Örebro Municipality’s environmental work and approved the environmental areas that the municipality highlights as green investments.
| Issuer: | Örebro Municipality
|
| Issue: | Green bond
|
| Amount: | SEK 750 million
|
| Maturity: | Oct. 16, 2019
|
| Lead manager: | Skandinaviska Enskilda Banken AB
|
| Settlement: | Oct. 16
|
|
|
| Floating-rate notes
|
| Amount: | SEK 550 million
|
| Coupon: | Stibor plus 23 bps
|
|
|
| Fixed-rate notes
|
| Amount: | SEK 200 million
|
| Coupon: | 1.193%
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
