Swedish tissue producer SCA has raised SEK 1.5 bn through a green bond issue. The bond proceeds will be used for investments in projects with a positive environmental impact.
Green corporate bonds are relatively new in the bond market. SCA’s green bond offer was oversubscribed. It was placed with approximately 30 investors.
“SCA’s position as the first listed company in Sweden to offer a green bond is further confirmation of how important and highly prioritized our sustainability work is,” says Jan Johansson, president and CEO of SCA. “SCA’s sustainability activities are based on the creation of financial, environmental and social value. Each of these components holds equal importance in the drive to create a successful company.”
Examples of investment areas for SCA’s green bonds are renewable energy and energy efficiency.
The intermediary bank has been SEB.
SCA is a producer of personal care, hygiene and forest products. It operates the TENA and Tork brands.