Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Sparebank 1 Boligkreditt

 

SpareBank 1 Boligkreditt is a Norwegian covered bond issuer jointly owned by the saving banks working closely together under the SpareBank 1 brand. The cover pool consists solely of Norwegian residential mortgages originated by the SpareBank 1 parent banks with a loan-to-value of up to maximum 75% and a liquidity reserve. The covered bonds are rated Aaa by Moody's.

The covered bond funding entity is of high strategic importance to the members in the SpareBank 1 Alliance. The Alliance consists of savings banks with a dominant share of mortgage retail lending as their core business. All of the business takes place within Norway and most SpareBank 1 banks trace their history to the 19th century. The Alliance's banking branch network is Norway's most extensive and the wide dispersion of banks ensures a well distributed cover pool.

This is the first issuer from Norway and Scandinavia to receive Certification.

 

note: This bond was Certified after bond issuance - ie "post issuance Certification"

 

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

MATURITY

JURISDICTION OF ISSUER

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
January 2018 Covered Bond EUR 1 billion (USD 1.24 billion) 7 years Norway Low Carbon Buildings - Residential post issuance Verification report by Multiconsult

Allocation Report 2018

Verified Annual Report 2018 by Deloitte

Sparebank 1 Boligkreditt Green Bonds website

general bond program

Green Bond Framework

Term sheet

June 2020 Covered Bond SEK 8.5 billion (USD 919 million) 5 years Norway Low Carbon Buildings - Residential same report as above   Term sheet