JOOL closes SEK 505 million green bond issue for Advanced SolTech Sweden AB

Tap issue amount: SEK 100 m

Full issue amount: SEK 505 m

Interest rate: 9 % p.a.

Maturity date: 25th January 2023

Product: Green Corporate Bonds

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The successful placement of a SEK 100 m (in SEK and EUR) tap issue concludes the green bond issue for Advanced SolTech Sweden AB, establishing the full issue amount at SEK 505 million. JOOL Markets AS acted as Sole Manager and Bookrunner for the bond issue.

The bond issue has a floating interest rate starting at 9 % p.a. with a 3-months IBOR component, with quarterly payments and maturity in January 2023.

The net proceeds will be used to finance construction of new solar power facilities within the Green Bond Framework. The bond issue is secured with pledge over shares and pledge over solar power facilities.

The bond is listed on Nasdaq First North Sustainable Bond Market.

Tom Olander, JOOL Group CEO and co-founder, comments: 
“We are delighted to have arranged over SEK 500 million of green bond financing for Advanced SolTech Sweden AB during 2019. We see a large and increasing demand for sustainable high yield investments among our investor base, and we look forward to continue meeting this demand in the future. Historically, the green bond market has been accessible primarily for large corporates and governments. Specializing in the SEK 30-200 million segment, we are proud to help bring the green financing alternative to a new category of issuers. Closing this transaction establishes JOOL as pioneers within green bond financing for Nordic SME companies.”

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Roschier Advokatbyrå AB acted as legal advisor to Swedish law, AnJie Law Firm as to the laws of China. Intertrust (Sweden) AB acted as bond trustee.