20 Mar 2020 10:28

SEB arranged issuance of bond for coronavirus crisis support

SEB has arranged the issuance of a social bond of SEK 3bn. The money will support underserved communities in developing countries, including countries affected by the coronavirus. 

The social bond is issued by the International Finance Corporation (IFC), a member of the World Bank Group focused on the private sector in emerging markets.

The World Bank Group has undertaken to deploy USD 14bn in fast-track financing to a crisis programme, of which the IFC is handling just over half, or USD 8bn.

“In this situation it is imperative to act swiftly, and therefore it is gratifying to note that we on Wednesday were able to launch this five-year bond worth 3 billion kronor. We are pleased to be able to contribute to strengthening the global community's ability to deal with the crisis,” says Karl-Johan Nystedt, head of Public Sector & SSA Origination, which led the deal for SEB.

The institutions that subscribed for the bond are Alecta, Folksamgruppen and Länsförsäkringar AB.