Vasakronan signs seven-year green loan agreement with NIB
Vasakronan AB and the Nordic Investment Bank (NIB) have signed an agreement for a seven-year green loan of SEK 750 million for the construction of green office properties in Stockholm.
In central Sundbyberg, one of Sweden’s fastest-growing municipalities, Vasakronan is constructing the Nya Kronan property. The project encompasses a total of 47,000 square metres in two new buildings and one existing building that will be renovated. The Swedish Tax Agency will rent 42,000 square metres and is therefore the largest tenant.
Since Vasakronan was founded in 2008, the company has focused on delivering a high and stable long-term return, but never at the cost of humanity or the environment. Diligent and structured work has made it possible to halve energy consumption in the company’s property portfolio and to lower carbon emissions from operations by almost 100%. 85% of the company’s property portfolio is environmentally certified, of which 72% is certified Gold or Platinum according to LEED.
In 2013, Vasakronan issued the world’s first green corporate bond. In 2016, the first green bank loan was signed with NIB and since then, the company has broadened its investor base through the inclusion of green commercial paper. At the end of last year, 47% of Vasakronan’s financing was green.
Completion of Nya Kronan is scheduled for 2021 and it will be certified Platinum, LEED’s highest rating. Solar photovoltaics will be installed on the roof and integrated into the façade, while geothermal climate control will provide both heating and cooling. Green buildings are more energy- and resource-efficient than conventional buildings. They can increase productivity at the workplace and improve the experience for people inside thanks to better indoor air quality, acoustics, temperature and lighting.
Nordic Investment Bank (NIB) is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank finances private and public sector projects in and outside its member countries. NIB has the highest possible credit ratings from Standard & Poor’s and Moody’s (AAA/Aaa, respectively).
For further information, please contact:
Tel: +46 (0)70 686 25 41
Rebecca Liljebladh Thorell
Sr. Communications Mgr.
Tel: +46 (0)70 968 15 81
Vasakronan is Sweden’s largest property company with a portfolio valued at around SEK 156 billion. The portfolio is focused on centrally located office and retail properties in the growth regions of Stockholm, Uppsala, Gothenburg and Malmö. In terms of city retail, Vasakronan is the largest in all regions. The property portfolio comprises 174 properties with a total area of about 2.3 million square metres. The company is owned in equal shares by the First, Second, Third and Fourth Swedish national pension funds. Read more at www.vasakronan.se