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.

 

Sparebanken Sor Boligkreditt

 

 

Sparebanken Sør Boligkreditt is the covered bond issuing subsidiary of Sparebanken Sør.

This is the fourth issuer in Norway to receive Certification. All four (the other three are SR Boligkreditt AS, Sparebank 1 Boligkreditt, DNB Boligkreditt) are related to the residential mortgage market in Norway and partly underwritten by ING.

Sparebanken Sør is Norway’s fifth largest savings bank, and traces its heritage to 1824. It is based in Kristiansand.

The proceeds will be used to finance and refinance mortgages linked to residential buildings in Norway which meet the following requirements of the Criteria:

  • New or existing Norwegian apartments that comply with the Norwegian building codes of 2010 (TEK10) or 2017 (TEK17)
  • New or existing Norwegian other residential dwellings that comply with the Norwegian building codes of 2007 (TEK07), 2010 (TEK10) or 2017 (TEK17)
  • Existing Norwegian residential buildings, built before 2009, with EPC-labels A, B and C

 

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

TENOR

JURISDICTION OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
October 2019 Use of Proceeds Bond EUR 500 million (USD 555 million) 7 years Norway Low Carbon Buildings (Residential) pre issuance verification   Sparebanken Sør green bond website