Swedavia

Swedavia is one of the first airport operators in the world to issue a green bond loan to fund projects and investments in climate change adaptation and sustainability.

The investments will include projects that support Swedavia’s long-term strategy and that contribute to the United Nations’ Sustainable Development Goals and the Paris Agreement’s long-term temperature goal. The investments will be made under the Green Bond Framework that Swedavia launched in October this year.

“Swedavia’s ambition is to be a world leader in developing airports with the least possible climate impact. We have now secured additional funding for our continued adaptation journey and for our vision of climate-smart airports and the transformation of aviation. The great investor interest in the loan was thus very gratifying,” says Jonas Abrahamsson, Swedavia’s president and CEO.

The framework was subject to an independent external assessment by the Center for International Climate and Environmental Research (CICERO) and includes the investment categories green buildings and infrastructure, energy efficiency, renewable energy, pollution prevention and control, and clean transportation.

In its assessment, CICERO has taken into consideration the fact that Swedavia’s operations could lead to increased emissions but notes that Swedavia is a role model for airports globally in terms of climate change adaptation.

“Swedavia is on the way to achieving its goal of zero emissions from its own operations in 2020 and contributes to research and development in fossil-free air travel and bio jet fuel,” Cicero notes in its opinion.

Swedavia’s goal is to have zero carbon dioxide emissions from its own operations at all ten of its airports by 2020, which will be achieved in part by investing in renewable fuels and the electrification of ground vehicles and equipment. By 2025, 5 per cent of all fuel used to refuel aircraft at Swedish airports shall be fossil-free. All of Swedavia’s airports have been certified at the highest level under Airport Carbon Accreditation’s environmental standards.

Facts about the transaction:

• The unsecured SEK 1 billion green bond loan has a maturity of 5.25 years and a fixed interest rate of 0,89 percent.
• Swedavia intends to apply to have the green bonds listed on Nasdaq Stockholm’s corporate bond list.
• The bond loan was issued under the Green Bond Framework that Swedavia launched on October 25, 2019, and under the company’s existing medium-term note programme.
• The green framework was developed in partnership with SEB and Swedbank, which both acted as Joint Lead Managers for the transaction.

Information about Swedavia’s Green Bond Framework and the company’s funding can be found at swedavia.se.

For further information, please contact Robert Pletzin, press officer at Swedavia, or Swedavia’s press office at tel. +46 (0)10-109 01 00 or press@swedavia.se.

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Swedavia has successfully issued SEK 1 bn of subordinated perpetual capital securities with a first call date on 26 November 2024. The capital securities have a floating interest rate up until the first call date of 3 month STIBOR + 150 bps.

The bond issue generated a strong investor interest and the issue was oversubscribed.

The proceeds will be accounted for as equity and be used for general corporate purposes, including refinancing of financial indebtedness and financing of investments.

Swedavia intends to apply for listing of the capital securities on Nasdaq Stockholm.

Nordea and SEB acted as Joint Lead Managers for the transaction.

Further information on Swedavia’s financing can be found at swedavia.se under the heading About Swedavia/Financial information.

For further information, please contact Robert Pletzin, Head of Media Relations at Swedavia, or Swedavia’s press office at tel. +46 10-109 01 00 or press@swedavia.se.

This is information that Swedavia AB (publ) is required to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the contact person above for publication on November 20, 2019, at 6.00 p.m. CET.