Wallenstam is issuing green bonds for SEK 400 million with a maturity of two years, aimed at refinancing wind turbines in the subsidiary Svensk NaturEnergi, which produces electricity through wind power.The green bonds are unsecured and will run for two years with maturity in May 2018. The bonds for SEK 400 million will run with a floating coupon of 3M STIBOR + 95 points. The bonds will be listed on Nasdaq Stockholm. Swedbank has acted as the issuing institution. Swedbank’s shadow rating of Wallenstam AB is BBB flat and BBB- on the bond loans.
Wallenstam has retained DNV GL in order to provide an opinion regarding how well the bonds follow the existing green bond framework. DNV GL has developed a green bond framework in order to evaluate Wallenstam’s bonds. This framework is based on the Green Bond Principles − a series of voluntary guidelines that aim to achieve transparency, openness and integrity in the green bond market. In light of the information DNV GL has received from Wallenstam and the work that DNV GL has carried out, it is DNV GL’s opinion that Wallenstam’s green bonds meet the criteria set out in the green bond framework and may thus be considered “green”, as defined in the green bond framework and in line with the spirit of the principles for green bonds.
“We are now issuing additional green bonds, where the proceeds from the bonds will be used to refinance wind turbines in our subsidiary Svensk NaturEnergi, which produces renewable energy,” says Hans Wallenstam, CEO of Wallenstam AB.
Wallenstam has been self-sufficient in renewable energy from its own wind turbines since year-end 2012/2013.
Facts about Svensk NaturEnergi:
• 64 wind turbines
• Total installed output 139 MW
• Svensk NaturEnergi’s book value for wind power is just over SEK 1.3 billion.
• Approx. 5,200 customers who purchase green electricity