SR Boligkreditt AS is the covered bond issuing subsidiary of SR Bank. SR Bank is privately owned and is the second largest wholly domestically owned bank in Norway. Until 2012, it was a savings bank based in Stavanger. In recent years, SR Bank has been very active in bringing sustainability into its business. In 2019, SR-Bank was a founding signatory of the UN Principles for Responsible Banking.
This is the third issuer in Norway to receive Certification, and the impetus for them to do so, is partly due to their underwriter ING’s interest in Certification.
Note: “boligkreditt” is mortgage credit bank. There is no relation between the various Norwegian issuers.
The proceeds will be used to finance and refinance mortgages related to residential buildings in Norway, which satisfy at least one of the following Criteria:
- Apartments compliant with building codes TEK10 or TEK17
- Other residential buildings compliant with building codes TEK07, TEK10, TEK17
- Residential buildings with EPC labels of A, B, C
- Refurbished buildings with 30% reduced energy consumption, based on two step improvement in EPC
|October 2019||Use of proceeds bond||EUR 500 million (USD 549 million)||7 years||Norway||Low Carbon Buildings (Residential)
Low Carbon Buildings (Upgrades)
|pre issuance verification|