Vattenfall has issued a €500 million green bond with a tenor of seven years.

The bond is the first international issuance under an Euro Medium Term Note programme listed on Nasdaq Stockholm.

The proceeds from the bond issue are earmarked for projects in four categories: renewable energy and related infrastructure; energy efficiency; electrification of transport and heat; and industrial projects.

Citi, Deutsche Bank,Nordea and SEB acted as joint bookrunners on the bond issue.

Anna Borg, Vattenfall’s chief finance officer, said: “We have seen very strong interest in our first green bond among European investors..”

The settlement date is 24 June 2019.