Gränges issues a SEK 600 million green bond
Gränges has successfully issued a five-year senior unsecured green bond of SEK 600 million under the company’s Medium-Term Note (MTN) program. The green bond is due in 2030 and carries a coupon rate of three-month Stibor plus 1.30 per cent. The issuance attracted strong interest from investors, with an order book exceeding SEK 2.2 billion.
The proceeds from this green bond will be allocated to eligible green projects in line with Gränges’ Green Finance framework.
"This successful inaugural green bond issuance underscores our commitment to sustainability and highlights the confidence investors have in Gränges’ strategic direction", said Gränges’ CFO, Oskar Hellström.
Danske Bank and Handelsbanken acted as Joint Lead Managers on the transaction and Structuring Advisors on the Finance Frameworks.
Gränges is a global leader in aluminium rolling and recycling in selected niches. Gränges has production facilities and conducts sales in the Americas, Asia, and Europe. It has 3,500 employees and a total annual production capacity of 800 kilo-tonnes.
Image credit: Granges annual & sustainability report
Note: This press release has been issued by Granges and has been published by AL Circle in its original form without any modifications or edits.
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