Kährs Group issued a five-year senior secured sustainability-linked bond with an initial amount of $1,450 million SEK ($158.9 million USD).
The bond is linked to the outcome of three sustainability goals, including: reducing climate emissions by 40% by 2025; defining Science-Based CO2 emission reduction targets and achieving validation by Science Based Targets initiative (SBTi) by 2023; and increasing the percentage of sustainably sourced wood to 87% by 2025.
“The new financial structure will provide us with greater financial flexibility to invest in the next level of sustainable innovations and to continue our successful expansion outside the Nordic region,” stated Johan Magnusson, president and CEO of Kährs Group.
The Governance Group carried out an independent review of the sustainability framework and awarded Kährs an A-rating, the highest rating possible. The framework can be viewed here.
