Nordea has acted as arranger and sole bookrunner in connection with Scandinavian Biogas Fuels International AB (publ) (“Scandinavian Biogas”) issue of senior secured green bonds in an initial amount of SEK 700 million within a framework of SEK 1,2 billion.
The proceeds from the issue of bonds shall be used in accordance with Scandinavian Biogas’ green financing framework, established in 2020 and which has received a ‘Dark Green’ rating from CICERO Shades of Green. The company intends to apply for admission to trading of the bonds on Nasdaq Stockholm’s sustainable bond list. Nordea and Scandinavian Biogas have in connection with the bond issue also entered into a super senior revolving credit facility and the related intercreditor and security agreements.
Scandinavian Biogas is a leading Nordic producer of biogas for vehicle fuel and fertilizer. Biogas is CO2-neutral and made from sewage and household, agriculture as well as industrial organic waste. In 2020, the company delivered 354 GWh of energy. The shares of Scandinavian Biogas is listed on Nasdaq First North Premier.
Nordea was advised by Mannheimer Swartling in the transaction.