Arise AB has today successfully issued a five year senior secured green bond of
SEK 1.1 billion with a floating rate of 3 months STIBOR + 3 percent p.a. The
bond matures in April 2019. Arise AB will apply for a listing of the bonds on
NASDAQ OMX Stockholm. In connection with the transaction the company’s debt is
reduced with about SEK 90 million and negative interest rate hedges of another
ca SEK 70 million are terminated. Together with a slightly improved amortization
profile of the bond it means that the company’s cash flow will improve by just
over SEK 30 million per year, on average, during the next five years.
This is the first senior secured bond issue in Sweden in the wind power sector.
The security of the bond consists of a number of wind farms in the southern part
of Sweden, all with good production and operating history. The bond replaces the
current bank debt financing of the secured wind farms and allows the company to
diversify its financing on favorable terms in the credit market.
“The interest for Arise and the bond has been strong. The fact that the bond
also has an environmental quality stamp has been important for many investors”,
comments Arise AB’s Head of Corporate Finance Linus Hägg.
Regarding green bond and DNV GL’s opinion
Arise AB has today issued a senior secured “green bond” to re-finance 10 of its
wind energy assets. DNV GL has given an opinion stating that the bond meets the
criteria for the Green Bond Principles. The Green Bond Principles were
established in January 2014 by a number of international banks to, inter alia,
standardize the green bond market. By this opinion the green integrity of the
bond is verified.
DNB Markets has acted as financial advisor to Arise and Sole Bookrunner for the
issue, while Setterwalls has acted as legal advisor to Arise and Mannheimer
Swartling has acted as legal advisor to the Sole Bookrunner.
Halmstad, 15 April 2014
ARISE AB (publ)
For further information, please contact
Linus Hägg, Head of Corporate Finance, Arise AB, +46 702 448 916
The information contained herein constitutes information which Arise AB is
legally required to publish under the Swedish Securities Market Act (2007:528)
and/or the Swedish Financial Instruments Trading Act (1991:980). The information
was released for publication at 15.15 p.m. on 15 April 2014.
About Arise
Arise is one of Sweden's leading companies in onshore wind power. Its business
concept is to sell electricity generated at the company's own wind turbines. The
company's target is to have 1,000 MW of onshore wind power constructed and under
management by 2017, of which 500 MW will remain in the ownership of the company.
Arise is listed on NASDAQ OMX Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone +46 (0)35
20 20 900, corporate id .no. 556274-6726
E-mail info@arise.se, www.arise.se
