Epiroc Issues Green Bonds Amounting to SEK 2 Billion

Epiroc issued SEK 2 billion in green bonds with considerable investor interest and an order book exceeding SEK 3 billion. The tenor is five years, and the bond has two tranches, one fixed and one floating.

The fixed tranche of SEK 1.5 billion has a coupon of 4.155% and the floating tranche of SEK 0.5 billion was priced at 3M STIBOR plus 1.20%.

The bond is issued under Epiroc’s Euro Medium Term Note (EMTN) program, with reference to Epiroc’s recently established Green Bond Framework, which is available on Epiroc’s Debt page.

The bonds will be listed on Euronext Dublin. SEB and Nordea acted as Joint Lead Managers for the transaction and SEB as Advisor for the Green Bond Framework.

“Epiroc plays a vital role in the transition to a low-carbon society,” says Håkan Folin, Epiroc’s Chief Financial Officer. “This new financing will support us as we continue our sustainability journey and invest in innovative products and technologies that make our customers’ and our own operations more sustainable.”   

Epiroc’s ambitious sustainability goals for 2030 include halving its CO₂e emissions. In 2021, Epiroc received validation from the Science Based Targets initiative (SBTi) for the targets to halve its CO₂e emissions in own operations as well as from the use of sold products.

The SBTi validated Epiroc’s climate targets as being in line with keeping global warming at a maximum 1.5°C, consistent with the latest climate science and the goal of the Paris Climate Agreement.