Fixed income

Humlegården Green Bond Listed on Stockholm Nasdaq

Maria Andersson, PM Carnegie Fonder AB, and Anneli Jansson, CEO, Humlegaarden Fastigheter AB, at the Stockholm Nasdaq, August 23 2017 (linkedin.com)

Stockholm (NordSIP) Humlegården Fastigheter AB CEO Anneli Jansson rang in the bell at the Stockholm Nasdaq this morning (August 23) to mark the listing of the company’s green bonds (pictured here with Carnegie AB’s Portfolio Manager Maria Andersson, one of the investors in the issue). The bonds are worth a total of SEK 1.25 billion, with a maturity of five years.

Humlegården Fastigheter AB is a property company within the Länsförsäkringar Alliance that builds, acquires, refines, renovates and manages office buildings in Stockholm. It is owned by 19 regional insurance companies and Länsförsäkringar SAK, and engages in prudent risk taking as part of the long-term management of the assets of said insurance companies. Total returns on the company’s net worth amount to an average of 8% annually, with a loan-to-value ratio that does not exceed 45-55%.

Humlegården’s focus, aside from first class property maintenance and service, is on a sustainable future and integrating sustainable and environmental commitment into its products. Humlegården’s green bonds finance environmentally certified properties and initiatives that provide energy efficiency or promote the use of renewable energy, with the objective of certifying all new production in the highest possible environmental class. One such example is the property “Grow” in Solna Strand, which is under construction, where the goal is the goal standard in environmental construction.

The green bonds were announced in June and were issued under the company’s recently established green framework and MTN program, which has budget of SEK 4 billion. The green framework and MTN program were designed in cooperation with Handelsbanken, which also carried out the first issue with the participation of 21 investors.

“For a long-term property owner like Humlegården, sustainability is a very central issue, and we are pleased to now offer the opportunity to invest in projects with a clear sustainability profile,” Ms. Jansson said at the time, noting the intention to note the bond on the Nasdaq Stockholm Sustainable Bonds list.

That ambition has now come to fruition.

 

 

 

 

 

Kames Capital
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  1. Pingback: The Week in Green (August 25th edition) | NordSip

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