Bonds and commercial paper
Bonds and commercial paper constitute a complement to bank financing and are used to optimise Klövern´s capital structure.
The table below shows Klövern’s outstanding bonds on 30 September 2020.
Overview of bonds
|ISIN code||Type||Issue date||Maturity date||Fixed/Variable rate||Volume, SEKm||Spread over 3-month Stibor on issue, %|
- Tender Information Document 6 October SE0009241805
- Prospectus SE0012702785 (in Swedish)
- Prospectus SE0011063163 (in Swedish)
- Terms and Conditions SE0011063163
- Prospectus SE0008015119
- Prospectus SE0009241805
- Prospectus SE0010831198
- Prospectus SE0006799987
- Prospectus SE0004868453
- Supplement to prospectus SE0004868453
- Prospectus SE0004453108/SE0004491512
- Prospectus SE0004951648
- Prospectus SE0005757578
- Notice of Call for Voluntary total redemption SE0005127578
- Prospectus SE0005757358
Secured MTN Program
Klövern AB (publ) has established a Medium Term Note programme with a framework amount of SEK 10 billion, secured by a pool of properties as underlying assets and fully covered by property mortgage certificates.
- Tender Information Document 28 April 2020
- Base prospectus MTN program (updated April 2020)
- List of all Security Properties
- Final Terms Loan 101
- Security Property Disclosure Loan 101
Unsecured MTN Program
Klövern AB (publ) has established an unsecured Medium Term Note programme with a framework amount of SEK 10 billion.
- Loan no 201 – Unsecured MTN program 6 October 2020 (in Swedish)
- Base prospectus Unsecured MTN program 6 October 2020 (in Swedish)
- Base prospectus Unsecured MTN program 7 February 2020 (in Swedish)
- Agency Agreement MTN-program February 2020
Green Bond Framework
- Green Bond Framework
- Second Opinion
- Klövern AB (publ) -Green investor presentation October 2020
- Green Bond Investor report 2018 (in Swedish)
- Green Bond Investor report 20198 (in Swedish)
- ESG – Questionnaire
Klövern AB (publ) has successfully issued hybrid bonds in the total amount of SEK 1,300 million under a framework amount of SEK 1,500 million. The hybrid bonds have a perpetual tenor and a floating interest rate of three-months STIBOR + 600 basis points until the first call date. The hybrid bonds are callable on 21 June 2023 and on every interest payment date thereafter.
Commercial papers work in the same way as bonds with the exception of the period to maturity, which is limited to a maximum of 364 days. Klövern’s commercial paper programme is traded via Danske Bank, Nordea and Swedbank. The programme has a framework amount of SEK 4,000 million and the outstanding volume on 30 September 2020 amounted to SEK 1,840 million.