Bonava issued its first outstanding senior unsecured green bond in September 2020 in the amount of SEK 1 billion. In June 2021 the bond was increased with SEK 200 M. The issue proceeds were used to refinance outstanding debt and is utilized in accordance with the green financing framework. The bond was prolonged by a written procedure with a new maturity on March 11, 2027. The bond has an updated coupon rate of 3M Stibor +5.0%.
The original coupon rate was STIBOR + 3,5%. For the second bond amounting to SEK 200 M the issue price was 101.9 which converts to 3M STIBOR + 2.64% basis points to first call date. The proceeds are utilized in accordance with Bonava’s Green Financing Framework. A redemption instalment of SEK 120 M will be made on March 31, 2024, and a second redemption instalment of SEK 120 M will be made on June 30, 2024.
A strong investor demand confirms the view of Bonava as a leading residential developer in northern Europe with a strong sustainable focus. One purpose with the bond issues is to diversify the company’s financing sources and to attract new capital market investors.
The bond is listed and traded on Nasdaq Sustainable Bond List.
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