BNG Bank Issues Inaugural Sustainability Bond in Swedish Krona
28 April 2020
The use of proceeds is in line with the advancement of UN Sustainable Development Goal #11, Sustainable Cities and Communities.
Due on 04 May 2022, the bond has an annual coupon of 0.250% and a yield of 0.313%. The issue will be listed on the Luxembourg Green Exchange. Nordea Bank Abp was the sole lead manager for this transaction.
"Sustainability is an integral part of BNG Bank's strategy. Our core clients, Dutch municipalities and Housing Associations are fulfilling an important task in the process of energy transition and improving sustainable environment and social conditions. This inaugural SEK Sustainability bond contributes to our mission in helping to build a more sustainable society."
Willem Littel, Senior Manager Capital Markets and Investor Relations, BNG Bank
"At PKA we are happy to contribute to the development of sustainable social housing, which contribute to the green transition as well as promoting social sustainability in a time where we need to address both social needs and climate change. To be able to do so with a good risk adjusted return is something that our members value highly"
Mads Skaaning Jensen, Head of Fixed Income, PKA
Sustainability is an integral part of BNG Bank's strategy and BNG Bank was awarded a C+ 'Prime' sustainability rating by ISS Oekom research AG (2019). This BNG Bank Sustainability Bond for Dutch Social Housing Associations promotes BNG Bank's investment in the best-in-class of sustainable social housing associations. BNG Bank is using the framework developed by the Tilburg Sustainability Center of Tilburg University (TSC-Telos) for ranking Dutch social housing associations based on their sustainability performance. Sustainalytics reviewed BNG Bank's Sustainability Framework. The proceeds of the bonds will be utilised for lending to the Dutch Social Housing Associations according to BNG Bank's 2019 Sustainability Framework for Dutch Social Housing Associations. The bonds are listed on the Luxembourg Green Exchange (LGX).