20/11/2015 – The Baltic renewable energy company Nelja Energia lists its first bond issue on Oslo Børs today. Nelja Energia is the first foreign company on the Oslo Børs green list.
Proceeds from the bond will finance new renewable energy projects in the Baltic countries.
The core business area of Nelja Energia is the development and operation of renewable energy projects in Estonia, Latvia and Lithuania. The company is based on Nordic and Estonian capital and is dedicated to the realization of environmental benefits, through low-carbon electricity.
- About Nelja Energia
The bond loan that is admitted to listing today – Nelja Energia AS 15/21 FRN EUR C – is an issue of EUR 50 million with a floating interest rate of 3 month EURIBOR + 6.5 %. Swedbank has been the manager for the issue.
In January this year, Oslo Børs became the first exchange in the world to establish a separate list for green bonds. Since then, the list has reached nine issues with total outstanding value around NOK 13 billion.
The proceeds raised by issuing green bonds must be used for environmentally friendly purposes, and a second opinion on the project has to be sought in order for the issue to feature on the green list. DNV GL has provided the second opinion for the green bond listed by Nelja Energia.
