Danske Bank acted as joint lead manager on Stockholm Exergi's SEK 2bn green bond

We congratulate Stockholm Exergi on the issuance of their SEK 2bn (triple tranche) green bond! Stockholm Exergi is Stockholm’s district heat, power and cooling producer and supplier, with annual heat deliveries of over 17% of total Swedish district heat demand. Today, 99% of Stockholm Exergi’s fuels sources are renewable or recovered, and the company aims to be climate positive by 2025.

Last year, Danske Bank helped structure Stockholm Exergi’s Green Bond Framework, and we are very happy to continue our collaboration. Stockholm Exergi’s Green Bond framework has been labelled dark green by CICERO Shades of Green, which means that the projects and solutions correspond to the long-term vision of a low carbon and climate resilient future.
Fact Box

Transaction Terms

Issuer: Stockholm Exergi AB (publ)

Status: Senior Unsecured / Green Bond / Reg S

Issuer rating: BBB+ (stable) by S&P

Launch date: 10 September 2020

 

Issued in  three tranches:

  • SEK 400m tranche due 2024, paying a quarterly coupon of 3m Stibor + 50bp
  • SEK 600m tranche due 2027, paying a quarterly coupon of 3m Stibor + 90bp
  • SEK 1bn tranche due 2027, paying an annual coupon of 1.085%

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