Capital markets products
Listed Swedish property company Kungsleden AB (publ) intends to become a regular issuer on the capital markets. It aims to complement the company’s bank funding and extend its capital base.
MTN-Program
|
Launch |
2017 |
|
Program size |
SEK 12 000 000 000 (or the equivalent in EUR or NOK) |
|
Duration |
More than 1 year |
|
Currencies |
SEK, EUR, NOK |
|
Legistlation |
Swedish |
|
Arranger |
Nordea Bank AB (publ) |
|
Dealers |
Arctic Securities AS, filial Sverige, Danske Bank A/S, Danmark, Sverige Filial, Nordea Bank AB (publ), Skandinaviska Enskilda Banken AB (publ), Svenska Handelsbanken AB (publ), Swedbank AB (publ) |
|
Central securities depository |
Euroclear Sweden AB |
|
Listing |
NASDAQ Stockholm AB |
Green and sustainable financing
Green and sustainable financing
Issuing green bonds has become a natural part of Kungsleden's sustainability work and interest from investors in this area remains high. Moreover, in addition to the sustainability aspect, green financing often provides more favourable interest rates than traditional borrowing.
The share of green borrowing was 38 (27) percent of the total loan portfolio at the end of 2020. Taking into account green bonds issued during the first quarter of 2021 and the granting of an additional green bank loan, the share of green financing amounts to 41 percent. The goal is for all assets to be financed green or sustainable in the long run.
Of the bonds issued in 2020, a total of SEK 2,300 million were green bonds. At the turn of the year, Kungsleden had a total of SEK 6,300 million in outstanding green bonds. Kungsleden also has a green bank loan of just over SEK 800 million which is secured by a direct mortgage on the LEED Gold certified property Färöarna 3.
Green bonds are issued in accordance with the terms of our green framework, which clarifies how the proceeds from these bonds may be used.
A property that is financed with cash according to the green framework must, within the certification standard LEED or BREEAM, at least achieve the Gold and Very Good level respectively, and at least 70 percent of available points must be achieved within the Energy category.
According to this framework, it is also possible to achieve at least silver in the the Environmental Building and EU Green Building certification standards.
See Kungsleden's green framework here and investor letter here with feedback and an account of how funds from green bonds have been used. The bonds are listed on the Nasdaq Stockholm Green Bond List, a marketplace that places special demands on listed green bonds.
Read more about Kungsleden's financing and sustainability work in our latest quarterly report and annual report.
Credit opinion
- Moody´s credit opinion March 2021
- Moody´s credit opinion June 2020
- Moody´s- Issuer comment on new financial goals
