Gernandt & Danielsson advises in Genova Property Group AB’s (publ) reclassification of its outstanding bond loan with ISIN SE0014808820 to a green bond loan. Gernandt & Danielsson also in connection thereto advises in Genova’s issue of subsequent Green Bonds in an amount of SEK 250 million under its outstanding green framework of up to SEK 750 million with ISIN SE0014808820. The outstanding amount under the green framework following the bond issue amounts to SEK 650 million.

The net proceeds from the issue of Green Bonds will be used in accordance with Genova’s green financial framework and Genova intends to apply for admission of trading of the new bonds at the sustainable bond list of Nasdaq Stockholm.

Genova is a property company that owns, manages and develops properties with a focus on Greater Stockholm and the Uppsala Region. On 30 June 2021, the value of the company’s property portfolio amounted to approximately SEK 7.1 billion with a lettable area of approximately 243,000 sqm and the company held 6,782 building rights for residential units. Genova’s preference shares and ordinary shares have been listed on Nasdaq Stockholm since 12 June and 30 June 2020, respectively.

Gernandt & Danielsson advises Genova with a team consisting of partner Mikael Borg and associate Simon Wetterholm. In addition, Nordea Bank Abp has acted as financial advisor to Genova.