07/04/2019 | Press release | Distributed by Public on 07/04/2019 04:43
Reykjavik Energy (OR) Lists Its First Green Bonds on Nasdaq Iceland
Reykjavik, 4 July, 2019 - Nasdaq (Nasdaq: NDAQ) today announced that Reykjavik Energy (OR) has listed its first green bond series on Nasdaq Iceland's sustainable bond market. The bond series currently have an outstanding nominal amount of about ISK 7.5 billion and a maturity of 36 years. The first issuance in the bond series was on 18 February 2019. OR intends to continue to issue bonds in the series in the coming years.
Reykjavik Energy has established Reykjavik Energy Green Bond Framework for OR's green bond issuance which is in line with the Green Bond Principles (GBP) issued by the International Capital Market Association (ICMA). Furthermore, OR´s Green Bond Framework is rated Dark Green by CICERO shades of green, a global market leader in green bond second opinions. CICERO shades of green furthermore rated the governance structure in the framework as excellent and confirmed that the framework is in alignment with the Green Bond Principles. The proceeds from the Green Bonds will be used to finance or refinance projects that have environmental benefits, like renewable energy, energy distribution and management and sustainable water and wastewater management.
ˮWe are very pleased and proud to see how well our first issuance of green bonds has been received.' said Bjarni Bjarnason, CEO at OR. 'Demand has been high for the green bonds, showing strong investor support for green, climate positive projects. Operating an environmentally and socially sustainable business constitutes the foundation of OR´s long-term strategy and this issuance is a major step in integrating funding, social responsibility and joint efforts in battling environmental and climate change.'
'We congratulate OR on this important milestone.' said Magnus Hardarson, Vice President at Nasdaq Iceland. 'OR's addition to our sustainable bond market demonstrates continued growth in the market as we have seen strong interest from both investors and issuers in this respect. We anticipate more issuers to follow OR's suit in the near future as greater weight is being given to sustainable operations than ever before.'
Fossar Markets acted as green bond advisor and sole book runner in the OR¨s green bond transactions.
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 wrld's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries. Nasdaq is home to over 4,000 total listings with a market value of approximately $14 trillion. To learn more, visit business.nasdaq.com.
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Nasdaq Iceland Media Relations Contact:
+354 868 9836