Scandinavian Biogas evaluates debt financing options
Scandinavian Biogas Fuels International AB (publ) (“Scandinavian Biogas” or the “Company”), a leading Nordic producer of biogas-based vehicle fuels and fertilizer, has as previously communicated the intention to carry out investments of approximately SEK 1,300m in existing and new facilities in Sweden and Norway (the “Investments”). The purpose of the Investments is to expand capacity and further the Company’s focus on liquid biogas. The Investments will be financed by equity raised in the IPO made in December 2020, grants and new debt financing.
Scandinavian Biogas has mandated Nordea as sole financial advisor to evaluate its debt financing options, including a potential senior secured green bond and a potential revolving credit facility. The proceeds from such potential financing options are intended to be applied in accordance with the Company’s Green Financing Framework and would, together with equity raised in the IPO, in aggregate be sufficient to fully finance the Investments and a refinancing of Scandinavian Biogas’ and its subsidiaries’ existing debt, excluding financial leases.
The Company’s Green Financing Framework was established in 2020 and is in line with the Green Loan Principles and Green Bond Principles developed by ICMA (International Capital Market Association). The framework has received a ‘Dark Green’ rating from CICERO Shades of Green, including related governing documents and reporting standards.
For further information, please contact:
Matti Vikkula CEO Scandinavian Biogas
Mobile +46 (0) 70 597 99 38
E mail matti.vikkula(at)scandinavianbiogas.com
The information in this press release is such that Scandinavian Biogas Fuels International AB (publ) must disclose in accordance with the EU Market Abuse Regulation (EU MAR) No. 596/2014. The information was submitted for publication, through the agency of the contact person set out above, on April 29, 2021, at 7:00 CEST.
Scandinavian Biogas is a leading Nordic producer of biogas for vehicle fuel and fertilizer. Biogas is CO2-neutral and made from sewage and household, agriculture as well as industrial organic waste. Today Scandinavian Biogas has facilities in Sweden, Norway and South Korea. In 2020, the company delivered 354 GWh of energy. Scandinavian Biogas has 92 employees and total sales of SEK 455 million (proforma) in 2020. The head office is located in Stockholm and the company is listed on Nasdaq First North. Certified advisor is Erik Penser Bank AB, telephone: +46 (0) 8-463 80 00, certifiedadviser(at)penser.se. www.scandinavianbiogas.com