Ellevio issues the company’s first green bond of SEK 1,650 million
Ellevio has issued its first bond on the market under the company’s green bond framework. The size of the bond issue is 1,650 MSEK and proceeds will be earmarked for the project of installing smart electricity meters in nearly one million households and companies in Sweden.
- This is Ellevio's first green bond and we are pleased that the interest has been so great. The bond has been oversubscribed 2.5 times, which is a clear sign that the market is positive and wants to be part of our journey to future-proof Sweden, says Johan Lindehag, CEO of Ellevio.
Ellevio has launched a green framework to offer the capital market the opportunity to invest in projects that support the transition to an emission-neutral and climate-smart energy system. The framework has been reviewed by the independent climate and environmental research institute CICERO and has received the highest rating "Dark Green".
The bonds are issued under the company's Euro Medium Term Note (EMTN) program and in accordance with Ellevio's framework for green bonds. The funds will be used to finance investment as defined by the green bond framework. The settlement date is June 11, 2020 with maturity date on June 11, 2027.
Head of Treasury
Head of financial communication
With almost one million customers, Ellevio is one of Sweden’s largest distribution network operators. We take an active role in the journey toward a fossil-free society. Our electricity grids are the backbone that connects electricity producers and consumers, enabling an increased share of renewable electricity, the electrification of transport and industry, as well as creating the prerequisites for new climate-smart services for our customers. We have more than 500 co-workers and employ indirectly about 3,000 people around the country. Our head office is in Stockholm and we are owned by the pension trustees Folksam, The First Swedish National Pension Fund, The Third Swedish National Pension Fund, and OMERS Infrastructure. Read more at ellevio.se