Green Bond Fact Sheet

Fastighets AB Balder

Date: 06/06/2019

Issue date: 05-06-2019 Maturity date: 05-06-2024 Tenor: 5Issuer Name

Fastighets AB BalderAmount Issued

SEK1bn/USD106m

Country of risk

SwedenCBI Database

Included

Issuer Type1

Non-financial
corporate

Bond TypeSenior unsecured

Green Bond Framework

Link to framework

Second party opinion

CICERO

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☐ Energy☐ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Buildings☒ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emissionvehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
Reporting

Balder is committed to transparency on the impact of its investments by publishing an Impact
Report. The report will include details of allocation as well as impact. It will be publishedannually on Balder’s website for as long as any green bond funds are outstanding. Details on
proceed allocation will include:•••

A list of eligible assets and projects financed and amounts allocatedDetailed descriptions of a select projects and/or assets financed
Amounts invested per category (as defined in the Framework) and the relative shareof new financing versus refinancing

Balder strives to disclose actual environmental impacts in its reporting. If/when actual impact
is not observable (or is unreasonably difficult to measure), estimated impact will be reported.
Impact indicators may vary by investment category. A full list of possible metrics is available
on p. 9 of Balder’s Green Bond Framework.

Company information

Fastighets AB Balder is a Swedish listed property company, headquartered in Gothenburg.
Balder's real estate portfolio was valued at SEK 118.1 billion as of 31 December 2018. Thecompany was established in 2005. Balder acquires, develops and manages residential andcommercial properties in large cities and growth centres in Sweden, Denmark, Finland,
Norway, Germany and the UK. Balder is also one of Sweden’s largest owners of hotel
buildings and owns hotels located in the central parts of Gothenburg, Copenhagen,
Stockholm, Malmö, Berlin, Gelsenkirchen and Helsinki.

Firsts, records andcertifications
Proceeds description

The proceeds of Balder’s inaugural green bond will be allocated to green and low carbon
buildings and energy efficiency in those buildings. Renewable energy, including for example
solar and geothermal, in Balder’s building portfolio as well as the company’s operations is
also an eligible project category under the framework. Projects in the energy efficiency
category need to reach a minimum 25% improvement. Examples of these can include
performance improvement to the insulation, ventilation, light systems and windows ofbuildings owned by Balder.
Whole buildings must meet at least one of the following minimum certification levels:
••••
•
•

Miljöbyggnad “Silver”
LEED “Gold”
BREEAM “Very Good”
Nordic Swan Ecolabel
BREEAM In-Use “Very Good”
Nearly Zero-Energy Buildings (NZEBs)

Additionally, eligible new, renovated and existing buildings must have at least 25% better
energy efficiency compared to the national building regulations.

Climate Bonds view

Balder is a welcome addition to the Swedish real estate sector’s green bond market, which
was one of the pioneering sectors in issuing green debt in the Nordics. Issuance fromSwedish property companies has now reached a whopping SEK50.2bn (USD5.9bn). CBIagrees with Second Party Opinion provider CICERO that Balder’s Green Bond Frameworkprovides a sound basis for investments into projects aligning with the Green BondPrinciples (2018). The issuer has also followed market best practice in its transparency andcredibility aspirations by committing to report on impacts as well as allocation of proceeds

Underwriters

NordeaDeal comments
Credit Rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign