Stockholm, May 4, 2018 – On April 18, 2018, Vattenfall, a leading European energy company, published the base prospectus for its EUR 10,000,000,000 euro medium term note (“EMTN”) program, the first EMTN prospectus to be approved by the Swedish Financial Supervisory Authority and the first EMTN program governed by Swedish law. On the same date, Vattenfall was registered with Nasdaq Stockholm as an approved issuer.
Today, Vattenfall listed outstanding bonds issued under its previous English law governed EMTN program, as well as outstanding hybrid bonds issued by it, at Nasdaq (Nasdaq:NDAQ) Stockholm. The EMTN bonds and hybrid bonds, being in an aggregate nominal amount of approximately EUR 5.5 billion, will also remain listed on the London Stock Exchange. The EMTN bonds are the first of their kind to be listed at Nasdaq Stockholm.
“Vattenfall is a European energy company with its headquarters in Stockholm and sizable operations both in Sweden and in Europe. Having out EMTN program governed under Swedish law will contribute to improved efficiency and simplicity in our financial operations. We look forward to continued good collaboration with Nasdaq Stockholm,” says Anna Borg, CFO at Vattenfall.
“We see an increasing interest among Nordic issuers to list their bonds at our markets,” says Ann-Charlotte Eliasson, VP and Head of Nordic Fixed Income Listings at Nasdaq. “We welcome Vattenfall to the Nasdaq family as the first issuer of bonds under an EMTN program. With stable and liquid capital markets certain to remain within the EU for the forseeable future, Nasdaq’s Nordic Bond Market should be the natural choice for all Nordic issuers and also a strong alternative for any European company looking to list their bond loans at a globally recognized exchange”.
A euro medium term note is a medium-term, flexible debt instrument designed to make it easy for issuers to raise capital and enter foreign markets. There are essentially no differences between bonds issued under EMTN programs and MTN programs. However, EMTN programs have historically been registered in foreign markets such as London and have never before been done under Swedish law.
“We are very happy to have had the opportunity to act as Vattenfall’s Swedish adviser in this ground breaking project”, says André Andersson, Head of Mannheimer Swartling’s Banking and Finance group. “By making only limited amendments to the international standard for EMTN programs, mainly with inspiration from similar programs under German law, Vattenfall has managed to establish a Swedish law governed program and produce a prospectus which are very similar to the formats that international investors are used to”.
More than 7,400 instruments, with a volume of over €880,000 million, are listed on the Nasdaq Bond Market in the Nordics. Mortage Bonds, Government Bonds and Corporate Bonds are the three largest categories. The Nasdaq Sustainable Bond Market, the world’s first when it was launched in 2015, is the world’s second largest market for sustainable bonds, in terms of number of instruments listed. Nasdaq offers listing solutions for bonds in all currencies.
About Vattenfall
Vattenfall is a leading European energy company, which for more than 100 years has electrified industries, supplied energy to people's homes and modernised our way of living through innovation and cooperation.
Vattenfall wants to make fossil-free living possible within one generation. Therefore they are driving the transition to a more sustainable energy system through growth in renewable production and climate smart energy solutions for their customers. Vattenfall employs approximately 20,000 people and have operations mainly in Sweden, Germany, the Netherlands, Denmark, the UK and Finland. Vattenfall is owned by the Swedish government.
To learn more, visit corporate.vattenfall.com
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion.
To learn more, visit: http://business.nasdaq.com
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Media Relations Contact: + David Augustsson + +46 734496135 + david.augustsson@nasdaq.com |