On 17 May 2023, Vattenfall issued GBP 250,000,000 subordinated capital securities with a maturity of 60.25 years and a first call option after 5.25 years.
This was Vattenfall’s second green GBP hybrid bond issue under Swedish law and its first hybrid bond transaction since 2021. It was admitted to trading on Nasdaq Stockholm’s Sustainable Bond List on 19 May 2023. The new capital securities have been assigned BB+ and Baa2 credit ratings by the credit rating agencies S&P and Moody’s, respectively.
Vattenfall is one of Europe’s largest producers and retailers of electricity and heat and has approximately 20,000 employees. The main markets are Sweden, Germany, the Netherlands, Denmark and the United Kingdom. Vattenfall is owned by the Swedish state.
Vattenfall was advised by Mannheimer Swartling in the transaction.