Sandnes Sparebank raises green funding at Oslo Børs
Sandnes Sparebank today marked the admission to listing of its first green mortgage bond.
This bond issue attracted a lot of interest, and it was placed at a lower interest rate than would have been the case for a bond issue outside the green category.
"The issue went very well. There was good demand from investors, and the order book filled quickly. We estimate that the interest rate on this green issue was two basis points cheaper than for an ordinary bond issue", comments Carl Fredrik Hjelle, CFO of Sandnes Sparebank.
The bond loan has a total outstanding of NOK 300 million and an initial coupon rate of 0.77% (3M NIBOR + 0.42).
The bond issue achieved a 'green' discount on its placing terms.