NIB confirms EUR 248 million for green buildings in Sweden

The Platinan building in Gothenburg. Visualisation: Vasakronan AB

NIB and the Swedish commercial property company Vasakronan AB have signed a long-term loan agreement of SEK 2,345 million (EUR 248 million) for the renovation and construction of green buildings in Stockholm and Gothenburg.

The ten-year maturity loan is funded with the proceeds of NIB Environmental Bonds. The loan will finance two new commercial properties, which are both to receive Platinum status under the Leadership in Energy and Environmental Design (LEED) certification system.

One of the buildings is Sergelhuset, located beside Sergel’s Square in the heart of Stockholm. Sergelhuset will be renovated and transformed into office space, shops, a hotel and apartments with a gross floor area of 85,000 square metres. Construction will start in the summer of 2017 and be completed by the end of 2020.

The other project, Platinan in Gothenburg, will replace an existing building. The new building will have a gross floor area of 75,000 square metres, more than four times the size of the replaced one (18,000 square metres). The area will be used for office and residential space as well as a hotel. Construction will start in the first quarter of 2017 and is expected to be completed by June 2023.

“The projects fulfil NIB’s environmental mandate because they aim for the highest possible LEED certification. Platinum-certified buildings push real estate clients and suppliers towards sustainability through leading by example”, says Henrik Normann, NIB President & CEO.

The estimated construction costs for the renovation of Sergelhuset are SEK 2,900 million, while the Platinan project will cost approximately SEK 2,200 million.

Vasakronan AB is Sweden’s leading commercial property developer and is jointly owned by four Swedish National Pension Funds. As of December 2016, the company owns and manages 179 properties around Stockholm, Uppsala, Gothenburg, Malmö and Lund.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Kim Krokfors, Senior Manager Origination, at +358 10 618 0517,

Mr Arild Moen, Senior Communications Officer, tel. +358 10 618 0496,