Placement of a green bond issue for Advanced SolTech Sweden AB successfully completed
Jan 31, 2019
Issue amount: SEK 170m
Interest rate: 9 % p.a.
Maturity: 48 months
Product: Green Corporate Bonds
The SEK 170m (in SEK, NOK and EUR) bond issue for Advanced SolTech Sweden AB has been successfully completed. JOOL Markets AS acted as Sole Manager and Bookrunner for the bond issue.
The bond issue has a floating interest rate starting at 9 % p.a. with a 3-months IBOR component, with quarterly payments and maturity in January 2023.
The net proceeds will be used to acquire a portfolio of roof-top solar power facilities, 24 MW.
The bond issue is senior secured and are JOOL Markets first arranged green bond transaction.
Roschier Advokatbyrå AB acted as legal advisor and Intertrust (Sweden) AB as bond trustee.
Tom Olander, co-founder of the JOOL Group, comments:
”Completing our first green bond issue represents a significant milestone for JOOL. Green bonds are growing rapidly as a source of funding within a large and expanding number of industries. Our existing focus and expertise within the bond markets, in combination with our partnership to the Climate Bonds Initiative, allows us to play a leading role in providing small and midsized Nordic issuers with access to the green bond market going forward.”
JOOL Markets is an independent Nordic investment bank and a leading arranger of corporate bonds for small and mid-sized companies. JOOL Markets is seated in Oslo and employs more than 70 professionals working from our offices in Oslo, Bergen, Gothenburg, Stockholm and Helsinki.