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2020-07-14

Sweden indicates maturity range of 7–10 years for green bond

The Swedish National Debt Office intends to choose a maturity within the range of seven to ten years for its green bond scheduled for issuance in August. A group of banks has been mandated to explore investor interest and then execute the sale of approximately SEK 20 billion.

The green bond will be issued in Swedish kronor and under the Debt Office’s programme for Euro Medium Term Notes (EMTN). The final maturity will be set and communicated as the terms of issuance are announced towards the end of August.

 “Investor demand for the green bond seems to be strongest for maturities between seven and ten years. A maturity within this range is also well-suited to our current borrowing plan and overall debt management,” says Johan Bergström, Acting Head of Funding at the Debt Office.

The Debt Office has appointed Barclays, Danske Bank, NatWest Markets, SEB and Swedbank as joint lead managers of the issue. SEB also acts as structuring advisor for the green bond.

In June, the Government adopted and presented Sweden’s Sovereign Green Bond Framework and the selection of budget expenditures to which the bond will be linked. The framework was rated “dark green” – the highest grade – by second-opinion provider Cicero. The proceeds will be linked to expenditures that go towards meeting Sweden’s environmental and climate goals.

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More information and links to related documents: https://www.riksgalden.se/en/our-operations/central-government-borrowing/issuance/green-bonds/

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