Bonds

Green bonds

Green bonds are issued under Vasakronan’s EMTN programme, and the documentation corresponds with Vasakronan’s other EMTN bonds. The difference is that the proceeds from green bonds are used solely for investments encompassed by Vasakronan’s Green Bond Framework.

The Vasakronan Green Finance Framework describes the investments that lead to lower energy consumption and lower climate impact, and which therefore qualify for financing with Green Finance Instruments. The second opinion on the framework was reviewed by the Center for International Climate Research (CICERO).

The following impact reports describe the investments made under the Green Bond Framework and the green bonds issued. You can read more about green financing here.

EMTN programme

In October 2018, Vasakronan established an EMTN programme of a maximum nominal amount of EUR 6 billion or its equivalent in other currencies. The programme allows funding on the capital market in a variety of currencies and replaces the former MTN programme.

MTN programme

Previously, Vasakronan issued bonds under its MTN programme. In conjunction with preparing an EMTN programme in October 2018, Vasakronan ceased to update the MTN programme. Therefore, no new issues will be made under the MTN programme, however the notes outstanding will run until maturity with unchanged terms and conditions.

EMTN programme

Last updated	2023
Size	EUR 8,000,000,000 or its equivalent in other currencies
Maturity	Min. 1 year
Governing law	Engelsk, Norsk (VPS Notes)
Listing	Euronext Dublin, Oslo Stock Exchange
Change of control clause	Existing investors have the right to early redemption if the Swedish national pension funds together cease to own shares representing at least 51% of the votes in Vasakronan and the company, as a result of the change of control, has its rating downgraded by at least one level.
Arranger	Citibank
Clearing systems	Clearstream, Euroclear, Verdipapirsentralen ASA
Dealers	Barclays, BNP Paribas, Citibank, Danske Bank, Deutsche Bank, Handelsbanken Capital Markets, Nordea, SEB, Swedbank, DNB Bank ASA