Sweden to open SEK-20bn green bond sale in August

Sweden will launch a green bond offering of around SEK 20 billion (USD 2.21bn/EUR 1.93bn) in August, the Swedish National Debt Office announced on Tuesday.

The maturity of the bonds will range between seven and 10 years, with the final maturity to be determined and announced toward the end of next month, together with the terms of the placement. The securities will be issued in Swedish kronor.

The raised proceeds will be allocated for expenditures supporting Sweden’s environmental and climate goals, the agency said.

A group of banks has been mandated to explore investor interest for a potential sale. “Investor demand for the green bond seems to be strongest for maturities between seven and ten years. A maturity within this range is also well-suited to our current borrowing plan and overall debt management,” said Johan Bergstrom, acting head of funding at the Debt Office.

Barclays (LON:BARC), Danske Bank (CPH:DANSKE), NatWest Markets (FRA:VWVH), SEB (EPA:SK) and Swedbank (STO:SWED-A) will act as joint lead managers of the offering.

(SEK 1.0 = USD 0.110/EUR 0.097)

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