London Stock Exchange welcomes SBAB
SBAB Bank AB (publ) (“SBAB”) is proud to take part in the prestigious Market Open Ceremony at the London Stock Exchange to celebrate the issuance of SBAB’s inaugural Green Bonds through a SEK 2 Bn, 5-year transaction. The issuance marks an important step for SBAB and SBAB is also proud to be the first Swedish bank to issue a Green Bond.
“SBAB has clear goals for sustainable business and we work consistently and determinedly to promote sustainability as an intrinsic element of our operations. By issuing a Green Bond, we are continuing efforts aimed at promoting a more sustainable cycle of funds – raising, as well as lending green funds. In the long-term, this also means supporting the achievement of national and international climate goals,” says Klas Danielsson, CEO of SBAB, and continues:
“Issuing a Green Bond provides an opportunity for us to diversify our investor base and further deepen investor dialogue regarding how we jointly can promote sustainability efforts and development in the financial and capital markets.”
The funds raised by SBAB will exclusively be used to finance or refinance properties that fulfil a number of energy-efficiency criteria or alternatively hold a selectively defined environmental certification. A framework based on the Green Bond Principles has been prepared and sets out the preconditions for the issuance of Green Bonds by SBAB and SBAB’s onward lending of these funds. The framework has been examined by an independent climate and environmental research institute, CICERO (Center or International Climate and Environmental Research - Oslo). The framework is available in full together with an opinion from CICERO at sbab.se/IR. SEB acted as advisor for the framework and as arranger for the bond issue and Ashurst acted as legal advisor.
SBAB is a 100% State owned Swedish mortgage bank, concentrating on providing mortgages specifically to the retail segment in Sweden. SBAB’s market share continues to increase and the SBAB group is currently the 5th largest mortgage provider in Sweden. The services SBAB offers are provided mainly over the internet but also include a call center in Karlstad, Sweden, which helps us to run a very efficient set up.