•  
Siemens: RuggedCom RSG2488 New Timing CapabilitiesAdvertisement
BACK SEND PRINT

Arise AB: Arise Successfully Issues a Five Year Green Bond of SEK 1.1 Billion



April 15, 2014

Arise AB (STO:ARISE)(STO:AWP) has 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 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)

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.

For more information :

Organization:
Arise Windpower (Headquarters)
Address:
Kristian IV:s väg 3, Box 808
Halmstad, Hallands Lan
Sweden, 301 18
www.arisewindpower.se/en

Contact person:

Linus Hägg, Head of Corporate Finance
Arise AB
Tel: +46 702 448 916
E-mail: info@arise.se
Web: www.arise.se


Link http://www.electricenergyonline.com/detail_news.php?ID=478288
BACK SEND PRINT
Most consulted news

Contact us

Jaguar Expo Inc
1160 rue Levis, Suite 100
Terrebonne (Quebec) J6W 5S6

Tel.: 450-471-0796
Toll free: 888-332-3749
Fax: 450-471-5443 . 888-243-4562

info@electricenergyonline.com
www.electricenergyonline.com

  Press

  Jobs

  Events

  Subscription

  News

  Magazine

  News on your smartphone

© 2014, Jaguar Media inc. All rights reserved. 1996-2014