Vinge has advised Fortinova Fastigheter AB (publ) (“Fortinova”) on the company’s first issue of senior unsecured green bonds in an aggregate principal amount of SEK 200 million, under a framework of up to SEK 600 million. Nordea, acted as sole bookrunner in connection with the bond issue.
The bonds have a floating interest of 3M STIBOR + 300 basis points and have a tenor of 3.25 years. In accordance with the terms and conditions of the bonds, the proceeds from the issuance will be used for general corporate purposes and in accordance with Fortinova's recently established green framework. Fortinova intends to apply for the bonds to be admitted to trading on Nasdaq Stockholm’s green bond list within 60 days from the issue date.
Fortinova is a growing real estate company whose business concept since its inception in 2010 has consisted of acquiring, developing and managing primarily residential properties which, according to Fortinova's assessment, have documented strong cash flows. Fortinova has a geographical focus on growth municipalities in western Sweden that the group considers to have a favourable growth profile and are attractive places to live, work and reside in.
Vinge’s team consisted of Wibeke Sorling, Lionardo Ojeda, Edin Agic and Sofia Haggren.
