Scandinavian Biogas successfully placed SEK 700 m green bonds
Scandinavian Biogas Fuels International AB (publ) (“Scandinavian Biogas”) has successfully placed senior secured green bonds of SEK 700 million under a framework of SEK 1.2 billion. The bonds have a tenor of five years and a floating interest of STIBOR three months plus 6.00 per cent. The bonds will share security with an up to SEK 300 million super senior revolving credit facility which Scandinavian Biogas intends to enter into in connection with the settlement of the bonds. The placement was well received by the market and the subscribers of the bond consisted mainly of Nordic institutional investors.
Scandinavian Biogas intends to apply for the listing of the bonds on the sustainable bond list of Nasdaq Stockholm.
“We are very pleased to within the company’s green financing framework having secured the debt financing for the company’s investment program and business. The set-up with a SEK 700m bond and a revolving credit facility of up to SEK 300m gives us both a flexible and long-term financing solution. We now look forward to implementing our business plan, which includes doubling biogas production and sales and delivering on our financial goals for 2024.” says Matti Vikkula, CEO of Scandinavian Biogas.
Nordea has acted as arranger and sole bookrunner for the bond issue with Cirio and Mannheimer Swartling acting as legal advisors.
For further information, please contact:
Matti Vikkula CEO and President
Mobile +46 (0) 70 597 99 38
E mail matti.vikkula@scandinavianbiogas.com
Scandinavian Biogas is a leading Nordic producer of biogas as a vehicle fuel and also fertilizer. The biogas, which is CO2-neutral, is extracted from sewage sludge and waste from households and agriculture, as well as industrial organic waste. Today, there are facilities in Sweden, Norway and South Korea. In 2020, the company delivered 354 GWh to the market. Scandinavian Biogas has 92 employees and in 2020 had total sales of SEK 455 million (pro forma). The head office is located in Stockholm and the company is listed on Nasdaq Stockholm First North Premier, the Company's Certified Adviser is Erik Penser Bank AB, telephone: +46 (0) 8-463 80 00, certifiedadviser@penser.se, www.scandinavianbiogas.com
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