Wallenstam issues green bonds to finance energy efficiency improvements at Sergelskrapan
Wallenstam has issued green bonds of SEK 300 million. The proceeds will be used for the renovation of Sergelskrapan in central Stockholm. Wallenstam is targeting energy savings of at least 30 percent, and the project is a concrete example of how green financing can be used to reduce energy consumption in the existing property portfolio.
The renovation of Sergelskrapan demonstrates how older commercial properties can be modernized to meet today’s requirements for energy efficiency and sustainability. Through investments in a new façade, ventilation, control systems and optimization of the building’s operations, the aim is to reduce energy consumption by more than 30 percent, while also enhancing the property’s attractiveness and long-term value.
“Energy efficiency improvements in the existing property portfolio are highlighted as a focus area in our green framework. During the period 2018–2025, we reduced energy intensity in our property portfolio by 30 percent. The bond issue is in line with Wallenstam’s long-term efforts to reduce the climate impact of its own operations,” says Hans Wallenstam, CEO.
Through this SEK 300 million bond issue, capital is being directed towards an area where investment needs are substantial and where the environmental effects are clearly measurable.
The bonds were issued at a fixed interest rate of 3.59 percent, corresponding to a credit margin of 65 basis points over mid-swap, with a two-year maturity (ISIN: SE0028000554).
Handelsbanken Fonder and Nordea Investment Management acquired the entire bond issue. SEB acted as adviser and provided expertise in structuring the bond.
For further information, please contact:
Susann Linde, Vice CEO and CFO Wallenstam AB, tel. +46 705 17 11 34
Wallenstam is a property company that manages, builds and develops properties for sustainable living and enterprise in Stockholm, Gothenburg and Uppsala. The property holding is valued at around SEK 72 billion and the customer base consists of around 12,800 households and 1,000 enterprises. The total lettable area is around 1.4 million sq m. The company’s B shares have been listed on Nasdaq Stockholm since 1984.