Vasakronan digitally expands its investor base with a new type of green debt instrument

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Vasakronan digitally expands its investor base with a new type of green debt instrument

Together with the German trading platform firstwire and DekaBank’s SWIAT blockchain infrastructure for settlement, Vasakronan has completed its first bilateral loan in the German market for Namensschuldverschreibung (NSV). The loan is green, digital, and self-arranged which makes it the first of its kind in the European market.

In 2013, Vasakronan issued the world’s first green corporate bond. In 2018, we took the next step and issued the world’s first green commercial paper. We are now taking a further step with a new type of debt instrument within Vasakronan’s Green Finance Framework, where the liquidity is earmarked for green assets.

The loan was made digitally through the trading platform firstwire, where Vasakronan and the investor DekaBank could complete the transaction without any third parties. Everything from negotiating to contract management is handled digitally through firstwire, meanwhile settlement and register keeping is conducted on DekaBank’s SWIAT (Secure Worldwide Interbank Asset Transfer), a blockchain-based platform allowing for real-time transactions with investors in the market.

“By borrowing in an entirely new market, we’re creating more opportunities to broaden our investor base. A green NSV is in line with our long-term environmental goals and carrying it out digitally, without third parties, simplifies the loan process,” says Thomas Nystedt, Group Treasurer at Vasakronan.

The loan is for EUR 50 million and has a maturity of 18 months.

On 30 September, Vasakronan’s liabilities totalled SEK 74 billion, 71% of which consists of green debt instruments.

For further information,
please contact:

Kommunikationschef Rebecca L Thorell 072-222 15 09 · 08-566 205 09 rebecca.liljebladh-thorell@vasakronan.se