SLP signs agreement regarding sustainability-linked financing
SLP has signed its first agreements regarding sustainability-linked financing with two of the company's existing banks – Nordea and Swedbank. The total sustainability-linked loan amount is 2.9 billion, of which approximately SEK 900 million is not sustainable financing today. The loans, which run until 2026 and 2027 respectively, have targets set for each year. The agreements mean that SLP receives a margin adjustment based on how the company delivers against the set goals, which are linked to SLP's work with environmental certification of properties and improving the properties' energy class and thereby reducing the properties' climate impact.
"It is pleasing that, in collaboration with both Nordea and Swedbank, we entered into sustainability-linked loans where we have a connection between the financing and our operational sustainability goals. Our ambition is to continuously expand our sustainability-linked financing over time. The agreements are a first step in that work and we are happy to have the agreements in place," says Matilda Olsson, CFO at SLP.
SLP already has sustainable loans corresponding to 75 percent, with all the company's banks, which was a goal that was set for the end of 2025. The sustainable loans require that the specific properties are environmentally certified according to certain standards or have low energy use and give a margin discount of 5-10 basis points per year. Including the sustainability-linked loans mentioned above, approximately 90 percent of the loan portfolio is either sustainable or sustainability-linked.
“At Nordea we are happy to be a financial partner to SLP and support their work in being at the forefront of sustainability work, which has been clearly linked to financing operations. This leads to a more sustainable operation for SLP and their tenants and also means that we are taking concrete steps towards a more sustainable society", says Johan Nydahl, Senior Relationship Manager at Nordea.
SLP's interest-bearing liabilities amounted to SEK 5.9 billion as of September 30. SLP's sustainability framework is revised every two years, thus new objectives for sustainable financing will be adopted from 2025.
For further information, please contact:
Tommy Åstrand, CEO of SLP, telephone: +46 705 455 997
About SLP – Swedish Logistic Property
Swedish Logistic Property – SLP – is a Swedish property company that acquires, develops, and manages logistic properties with sustainability in focus. Value growth is created through development of the properties which are located in Sweden’s most important logistic hubs. The property portfolio comprises a lettable area of approx. 1,075,000 sqm. SLP is a partner that takes responsibility and through this creates value for both tenants as well as for the company and its shareholders. SLP’s share of series B is listed at Nasdaq Stockholm Mid Cap. For further information about SLP: slproperty.se.
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