Arise AB has resolved to issue a new bond in order to refinance its outstanding bond 2012/2015 (ISIN: SE0004518769) (”Bond 2012/2015”). The new bond is, like Bond 2012/2015, a senior and unsecured bond with a total nominal value of SEK 350 million and a tenor of three years (ISIN: SE0006220059) (“Bond 2014/2017”). The interest rate is floating corresponding to STIBOR 3M plus 6%. Arise will apply for a listing of Bond 2014/2017 on NASDAQ OMX Stockholm. Arise has subscribed for SEK 34 million of Bond 2014/2017 in conjunction with the issuance.
Under the terms of Bond 2012/2015, maturing on 23 March 2015, there is an opportunity for early voluntary redemption. The company plans to exercise this right and call for early redemption with a scheduled redemption date on 29 September 2014. In connection with this, the Bond 2012/2015 is planned to be delisted from NASDAQ OMX Stockholm Corporate Bond List with an estimated last trading day on 17 September 2014.
The Bond 2014/2017 is labelled as “green” and DNV GL has in connection with the issue provided a Second Party Opinion based on the Green Bond Principles. Although the proceeds are not traceable to specific projects, the Bond 2012/2015 is assessed as in line with the spirit behind the Green Bond Principles (GBP), which is to “enable capital-raising and investment for new and existing projects with environmental benefits”. Arise is a company whose sole purpose is to develop and own wind farms and as such is dedicated to the realization of environmental benefits, through low-carbon electricity.
ABG Sundal Collier and Swedbank have been financial advisors with Mannheimer Swartling as their legal advisor, while Setterwalls acted as legal advisor to Arise, in connection with the issuance of the Bond 2014/2017 and refinancing of Bond 2012/2015.
Arise is one of Sweden’s leading companies in onshore wind power. Its business concept is to sell electricity generated at the company’s own wind turbines. The company’s target is to have 1,000 MW of onshore wind power constructed and under management by 2017, of which 500 MW will remain in the ownership of the company. Arise is listed on NASDAQ OMX Stockholm.