PR Newswire
STOCKHOLM, Nov. 23, 2023
- A green bond of EUR 500 million within the Green Financing Framework, with a maturity of 4.5 years
- Proceeds will be exclusively allocated to investments in energy efficiency
- The bond extends Ericsson's well diversified debt maturity profile
STOCKHOLM, Nov. 23, 2023 /PRNewswire/ -- Ericsson (NASDAQ:ERIC) has successfully placed a green Euro-denominated 500 million 4.5-year bond. The bond was issued under Ericsson's Euro Medium Term Note Program (EMTN). The issue follows a well-attended road show, where Ericsson presented its business strategy and how it is linked to the Company's ESG targets.
With this transaction, Ericsson extends its footprint in the Eurobond market, one of the world's largest corporate bond markets, and the proceeds will be exclusively allocated to investments in energy efficiency.
Carl Mellander, Ericsson's CFO, says, "The successful placement of this green bond confirms the market confidence in Ericsson's long-term competitiveness and in our strong sustainability ambitions. Issuing the bond is a direct consequence of our work to fully integrate sustainability into our finance operations, including last year's launch of our Green Financing Framework. The proceeds raised will support R&D investments in enhanced energy performance in both existing and future solutions. This will strengthen operators' competitiveness and enable further societal climate action through solutions made possible by mobile connectivity."
Ericsson's Green Financing Framework enables the Company to issue green bonds and other green financing instruments. The proceeds will be exclusively allocated to investments in energy efficiency and renewable energy. The framework was developed in accordance with the 2021 ICMA Green Bond Principles (GBP). CICERO Shades of Green, a leading global provider of assessments related to green and sustainable financing, and part of S&P Global since December 2022, acted as second party opinion provider.
Joint bookrunners were Citi, Credit Agricole CIB, Danske Bank, Deutsche Bank and SEB.
The Green Financing Framework and the second party opinion are available on Ericsson's website.
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ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company's portfolio spans the following business areas: Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platform, and Technologies and New Businesses. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
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SOURCE Ericsson
