Heimstaden Bostad secures €700 million sustainability-linked facility

By William Gullotti

Buffalo, N.Y., Sept. 20 – Heimstaden Bostad AB, via subsidiaries Heimstaden Czech sro and Heimstaden Czech Pilsen sro, entered into a €700 million sustainability-linked bank financing facility on Wednesday, according to a press release and a notice.

UniCredit Bank Czech Republic and Slovakia acted as mandated lead arranger and sustainability coordinator. Facility lenders also include Ceska Sporitelna, Ceskoslovenska Obchodni Banka, European Bank for Reconstruction and Development (EBRD), Intesa Sanpaolo, Komercni Banka, Raiffeisenbank and Vseobecna Uverova Banka.

The funds will be used for liability management and to support sustainability investments, which include thermal insulation, installation of heat pumps and shifting toward renewable fuel in Heimstaden Bostad's Czech residential properties.

"Heimstaden Bostad was the first major European residential real estate company to attain Science Based Targets initiative (SBTi) validation for our climate roadmap, with our Czech portfolio offering the highest potential for reducing CO2 emissions,” Helge Krogsbøl, Heimstaden’s chief executive officer, said in the release.

Relevant facility details, such as tenor and interest rate, were not disclosed.

Heimstaden Bostad is a real estate company based in Malmo, Sweden.

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