University Properties of Finland Ltd (SYK) will issue a green bond of EUR 100 million. The bond issued by SYK is the first green bond in the property industry and the third overall in Finland.
“In accordance with our responsibility vision, our aim is to have the most responsible campuses in Europe, and sustainable development is one of four strategic projects of our current strategy period. The green bond will help us improve the ecological responsibility of our buildings over their entire life cycle,” says Anssi Koski, Deputy CEO and Executive Vice President (Economy and Finance) at SYK.
SYK commits to investing the funds raised in certified, environmentally responsible and energy-efficient projects, such as new properties and properties to be modernised that have a BREEAM environmental certification rating of at least Very Good and an energy consumption rate that is at least 15% lower than what is required by building regulations.
SYK seeks to promote sustainable development from the perspectives of eco-friendliness, economy and social sustainability. The company develops properties to make them increasingly energy-efficient and ecological. In its investments, it focuses on finding environmentally friendly and long-term solutions.
“SYK is a pioneer in the Finnish property industry. SYK’s green bond has been well-received on the market, and it is clear that an increasing number of investors care about sustainability,” says Nikolas Rokkanen, Head of Debt Capital Markets at SEB.
The maturity of the euro-denominated, fixed-rate bond is five years. SYK is using the arrangement to prepare for increased business operations. At the same time, the company is aiming to diversify its capital structure.
Skandinaviska Enskilda Banken AB (publ) acts as the arranger of the transaction and as an advisor for the establishment of the Green Bond Framework, which includes the CICERO Second Opinion assessment. Borenius Attorneys Ltd acts as SYK’s legal advisor for the transaction.
For additional information, please contact:
University Properties of Finland Ltd
Deputy CEO and Executive Vice President (Economy and Finance)
Tel. +358 (0)40 514 1490, firstname.lastname@example.org
Skandinaviska Enskilda Banken AB
Head of Debt Capital Markets
Tel. +358 (0)40 579 7522, email@example.com
University Properties of Finland Ltd (SYK) is a nationwide owner and developer of higher education campuses. Our mission is to create campuses with great appeal and opportunities to fuel regional growth by combining science, business and vibrant urban life. We offer spatial solutions of the future for higher education institutions, companies and service providers as well as cost-efficient premises meeting the needs of our customers. SYK is owned by the Finnish state and 10 universities outside the Greater Helsinki region. The company’s balance sheet value is approximately EUR 1.3 billion, and is comprised of 247 university buildings. In 2017, turnover was EUR 150.1 million. www.sykoy.fi
SEB is a leading Nordic financial services group. Our operations are guided by a strong belief that creativity and an entrepreneurial approach are key in creating a better world. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services to both private and business customers. In Finland, Denmark, Norway, Germany and the United Kingdom, the operations of banks have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. SEB operates in around 20 countries worldwide, which demonstrates the international nature of the Group’s business operations. On 30 September 2018, the total assets of the Group amounted to SEK 2,777 billion, while its investments totalled SEK 1,871 billion. The Group employs around 15,000 people. You can find more information about the Group at www.sebgroup.com.
In Finland, SEB employs around 320 professionals in corporate and investment banking as well as in asset management and card business. Read more about SEB at www.seb.fi
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