London Stock Exchange welcomes City of Malmö Green Bond
Today London Stock Exchange welcomed the City of Malmö's Green Bond.
Malmö is the growth centre of southern Sweden offering access to 3.9 million regional consumers, as well as acting as a gateway to Scandinavia. It is a great place to live, work and do business in. City of Malmö is the third largest municipality in Sweden and with over 330,000 citizens and growing rapidly. Historically enterprises in Malmö are traditional manufacturing industries but today the focus of enterprises is rather to provide services. Companies today are profiled in areas such as cleantech, trade, logistics, gaming tourism, life science and more. Malmö also boasts a diverse population of citizens with backgrounds from almost all countries in the world.
Municipalities in Sweden are governed by democratically elected politicians. As a Swedish municipality City of Malmö provides a broad range of services to its citizens such as pre and elementary school, social services, care for children and elderly and more. Municipal services are financed by municipal taxes and by the national municipal equalization system where funds are redistributed to create equal economic conditions amongst municipalities.
Today, we pay attention to our first green bond issuance, which is also listed on London Stock Exchanges Green bond list. The bonds are issued under our EMTN programme and follows our comprehensive green bond frame work which has been given a second opinion by Sustainalytics. City of Malmö will allocate the bond proceeds to a portfolio of investments that contributes to the municipality's overall ambition to be a world-leading climate city.
City of Malmö is rated AAA with stable outlook by Standard & Poor's since 2011. City of Malmö bonds consist of unsecured debt. We aim to be a regular issuer of green bonds.
Katrin Stjernfeldt Jammeh, Chairman of the City executive board:
"By issuing Green Bonds City of Malmö is continuing on our ambitious strategy to be a world leading climate city. We are very pleased that there also is a substantial interest to invest in our Green Bonds and thus be a part of our quest to a sustainable future."