AfDB issues SEK1bn green bond

The African Development Bank (AfDB) on 17 February issued an inaugural Swedish krona green bond, its second such transaction under the new Green Bond Framework after a $500m three-year bond launched in October 2013. The Swedish krona market is one of the largest for green investments and the bond, which raised around SEK1bn ($150m), is a five-year floating rate transaction maturing on 24 February 2019. The transaction was fully subscribed by SPP, a company wholly owned by Swedish life insurance and asset management company Storebrand. Nordea Markets was the sole lead manager.