Bonds for 5.3 billion euro to Stockholm. This is the first time this type of financial instrument has been quoted on Nasdaq Stockholm.
Vattenfall is state-owned and therefore has no shares listed on the stock exchange. On the other hand, Vattenfall's bonds have long been quoted on the London Stock Exchange. Vattenfall has now decided that existing bonds in the European EMTN program will also be quoted on Nasdaq Stockholm. New bonds will from now on be issued on Nasdaq Stockholm under Swedish legislation. Vattenfall’s CFO Anna Borg says that this is a natural step for a company like Vattenfall to take:
“Vattenfall is a European energy company with its headquarters in Stockholm and sizeable operations both in Sweden and in Europe,” she says. “Having our EMTN program governed under Swedish law will contribute to improved efficiency and simplicity in our financial operations.”
Vattenfall invests billions of SEK each year in new wind energy, electricity grids and other assets. It borrows part of the capital required by issuing bonds.
Today there are bonds amounting to a total of EUR 5.4 billion. Among the investors are large northern European pension and bond funds.
Vattenfall's bonds have been quoted on the London Stock Exchange for 20 years.
"As we use a European bond program, it was natural for us to make use of the London Stock Exchange to reach out to a European market. Today, Nasdaq Stockholm has caught up and as we look ahead it also seems appropriate to be governed by a legislation that is closer to home," says Johan Gyllenhoff, Vattenfall's Group Treasurer.
This is the first time European bonds of this kind have been quoted on the Stockholm Stock Exchange.