September 18, 2014 - Assignment

Arise issues SEK 350 million senior unsecured green bonds

Arise AB (publ) has issued SEK 350 million senior unsecured green bonds due 2017 at a floating interest rate of 6.00 percentage units above 3-month STIBOR, for the purpose of refinancing its outstanding bond loan. Arise intends to apply for listing of the bonds on NASDAQ OMX Stockholm.

The bond is labelled as "green" and DNV GL has in connection with the issue provided a Second Party Opinion based on the Green Bond Principles. Although the proceeds are not traceable to specific projects, the bond is assessed as in line with the spirit behind the Green Bond Principles, which is to “enable capital-raising and investment for new and existing projects with environmental benefits”. Arise is a company whose sole purpose is to develop and own wind farms and as such is dedicated to the realization of environmental benefits, through low-carbon electricity. The Green Bond Principles were established in January 2014 by a number of international banks to, among other things, standardise the green bond market.

Arise is a listed Swedish company and one of the leading players in the Swedish wind power market. The company’s business idea is to operate as an integrated wind power company managing all stages of the value chain, from project development to sale of green electricity from company-owned onshore wind turbines.

Swedbank AB (publ) and ABG Sundal Collier AB have acted as financial advisors to Arise and lead managers for the bond issue.

Swedbank and ABG Sundal Collier were advised by Mannheimer Swartling. The firm’s team was led by Daniel Karlsson, primarily assisted by Andreas Zettergren and Sara Ulriksen.