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- Gränges issues a SEK 600 million Sustainability-Linked Bond to support the company’s sustainability strategy
Gränges issues a SEK 600 million Sustainability-Linked Bond to support the company’s sustainability strategy
Gränges has successfully issued a five-year senior unsecured sustainability-linked bond in the amount of SEK 600 million under the company’s MTN programme. The new bond is due in 2026 and has a coupon of 3 months Stibor + 1.20 per cent. The transaction generated a stronger than expected interest from investors and the issuance was oversubscribed with an order book growing to above SEK 1,000 million.
Gränges has tied the sustainability-linked bond to the achievement of three defined sustainability performance targets (SPTs), which all play a central role in Gränges’ sustainability strategy:
- SPT1: Reduce carbon emissions intensity from own operations and purchased energy (scope 1+2) by 25 per cent by 2025 compared to 2017
- SPT2: Reduce carbon emissions intensity from sourced metal inputs (scope 3) by 30 per cent by 2025 compared to 2017
- SPT3: Increase the share of recycled aluminium to at least 30 per cent of total sourced metal inputs by 2025
“Gränges has a strong commitment to sustainability and it’s encouraging to see the high interest among investors in supporting our sustainability strategy and targets. The engagement confirms that our sustainability and climate strategy is relevant, ambitious, and credible”, says Sofia Hedevåg, SVP Sustainability at Gränges.
Danske Bank and Nordea have acted as joint sustainability structuring advisors and Joint Lead Managers for the issuance.
Gränges launched a combined Green and Sustainability-Linked Finance Framework on September 20, 2021. More information about the framework is available on Gränges’ website, www.granges.com/investors/credit-market.
For further information, please contact:
Oskar Hellström, interim CEO and CFO
firstname.lastname@example.org, tel: +46 8 459 59 00
Sofia Hedevåg, SVP Sustainability
email@example.com, tel +46 733 03 79 79
Johan Dufvenmark, VP Group Treasury & Investor Relations
firstname.lastname@example.org, tel: tel: +46 705 97 43 75
Gränges is an aluminium technology company who drives the development of lighter, smarter, and more sustainable aluminium products and solutions. The company offers advanced materials that enhance efficiency in the customers’ manufacturing process and the performance of the final products. Gränges’ innovative engineering has transformed the industry for more than 125 years, and the company holds leading positions in rolled products for thermal management systems, speciality packaging and selected niche applications. Gränges has production facilities and conducts sales on three continents, Asia, Europe, and Americas. The total annual production capacity amounts to 560 ktonnes. Gränges has 2,600 employees and the share is listed on Nasdaq Stockholm. More information is available at www.granges.com.
114 47 Stockholm
+46 84 59 59 00
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