Peab

On June 13, 2024 Peab issued bonds for a total value of one and a half billion Swedish kronor. The bonds mature in 3 respectively 4.5 years. With a maturity of 3 years 9 million Swedish kronor were issued with a variable interest rate of 3 months Stibor (the Stockholm Interbank Offered Rate) plus 2.30 percentage points. With a maturity of 4.5 years 600 million Swedish kronor were issued with a variable interest rate of 3 months Stibor plus 2.70 percentage points.

Funds from the issue will be used to finance investments in green buildings, energy ECO efficient and circular products and production processes, clean transportation as well as water and pollution management.

"We're very pleased over all the interest in our green bonds. We have a clear plan for transitioning our business into becoming climate neutral and this issue is an important part of this work," says Niclas Winkvist, CFO of Peab.

Peab has adopted two sub-targets on the road to achieving our ultimate target of climate neutrality in 2045. One is to reduce carbon dioxide intensity from our own production 60 percent by 2030 and the other is to reduce carbon dioxide intensity from input goods and purchased services 50 percent by 2030.

The green bonds were issued within the framework of Peab's Swedish MTN program and the newly updated Green Finance Framework. The framework has been audited by the independent company Sustainalytics which states that it is robust, transparent and aligned with the latest market standard. The last time Peab issued green bonds was in 2021 for the sum of 1.5 billion Swedish kronor.

The settlement days are June 20th and June 24th. In conjuncture with the issue Peab has repurchased bonds worth 150 million Swedish kronor (ISIN SE0013104692) that mature on September 6, 2024. 

The transaction was arranged by Nordea, SEB and Swedbank.

For further information, please contact:

Juha Hartomaa, Head of Investor Relations Peab, +46 725 33 31 45