March 30, 2020 - Assignment

Vattenfall issues its second green bond under Swedish law EMTN programme

On 12 March 2020, Vattenfall successfully issued EUR 500,000,000 senior unsecured green notes carrying a fixed rate coupon of 0.050 per cent, due 15 October 2025. This was Vattenfall's second issuance under its Swedish law governed EMTN programme. The issuance generated great interest from the market and was oversubscribed more than six times despite the challenging market conditions around the date of launch. The notes have been listed on Nasdaq Stockholm's Sustainable Bond Market.

The proceeds from the issuance are earmarked for investments in the four eligible categories specified in Vattenfall's Green Bond Framework: renewable energy and related infrastructure, energy efficiency, electrification of transport and heat, and industrial projects

Vattenfall is a leading European energy company that employs approximately 20,000 people and has operations mainly in Sweden, Germany, the Netherlands, Denmark, the UK and Finland. Vattenfall is wholly-owned by the Swedish government.

Vattenfall was advised by Mannheimer Swartling in connection with the issuance and the listing of the bond.