By Lisa Kerner
Charlotte, N.C., March 19 – Wallenstam AB announced the issue of a four-year unsecured SEK 500 million green bond.
The bonds have a floating coupon of 3M Stibor plus 110 basis points and will list on Nasdaq Stockholm, according to a news release.
“Bond proceeds will be used exclusively to refinance loans in our Svensk NaturEnergi subsidiary, which produces carbon-free energy,” said chief executive officer Hans Wallenstam.
Swedbank acted as the issuing institution. Swedbank’s shadow rating for Wallenstam is BBB flat and BBB- on the bonds.
DNV GL developed a framework for green bonds to assess Wallenstam’s bonds based on the Green Bond Principles.
Wallenstam, a Gothenburg, Sweden property company, has been self-sufficient in carbon-free energy from its wind farms and hydro power stations since the beginning of 2013.
| Issuer: | Wallenstam AB
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| Issue: | Green bond
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| Amount: | SEK 500 million
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| Maturity: | March 2019
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| Coupon: | 3-month Stibor plus 110 basis points
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| Issuing bank: | Swedbank
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