SCA First Swedish Company to Issue Green Bond
Print this Article | Send to Colleague
The bond has a five-year tenor and is issued under the company's EMTN (Euro Medium Term Note) program. It has two tranches—one tranche 1 billion floating rate note, priced at three-month STIBOR +0.68% annually and one SEK 500 million fixed rate tranche with an annual coupon of 2.5%. SCA's green bond offer was oversubscribed. The bond was placed with approximately 30 investors.
"SCA's sustainability activities are based on the creation of financial, environmental, and social value. Each of these components holds equal importance in the drive to create a successful company. SCA's position as the first listed company in Sweden to offer a green bond is further confirmation of how important and highly prioritized our sustainability work is," says Jan Johansson, president and CEO of SCA.
Examples of investment areas for SCA's green bonds are renewable energy and energy efficiency.
SCA develops and produces sustainable personal care, tissue, and forest products. The company has some 44,000 employees. Its sales in 2013 amounted to approximately SEK 93 billion (EUR 10.7 billion).