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Eolus raises SEK550mn in green bonds to refinance its debt

Swedish wind developer Eolus has issued senior secured green bonds worth SEK550mn ($51.5mn), enabling the full refinancing of its existing debt.

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Eolus Vind Aktiebolag (publ) has completed the issuance of senior secured green bonds in the amount of SEK550mn ($51.5mn), with a four-year maturity and a floating interest rate of three-month STIBOR (Stockholm Interbank Offered Rate) plus 750 basis points. This transaction, structured under Eolus’ green framework established in March 2025, represents a significant step in the company’s financing strategy.

Listing planned on Nasdaq Stockholm

Eolus intends to apply for listing of the bonds on Nasdaq Stockholm’s sustainable bond list. Proceeds from the issue will be exclusively allocated to projects that comply with the criteria of its green framework, though no specific financial details related to the projects have been disclosed at this stage.

The company stated that the transaction completes the full refinancing of its existing debt. The refinancing strategy includes the bond issuance as well as several additional debt instruments.

Combination of instruments to secure refinancing

In addition to the green bonds, Eolus has secured a bridge facility, a super senior revolving credit facility, and a binding commitment for construction financing. No further details have been provided regarding the amounts or terms of these facilities.

The transaction was coordinated by DNB Carnegie, acting as sole bookrunner and green structuring adviser. Legal counsel to Eolus was provided by Mannheimer Swartling Advokatbyrå AB, while DNB Carnegie was advised by law firm Cederquist KB.

This transaction reflects a broader trend among renewable energy developers in Northern Europe to diversify financing sources, within a bond market that remains active despite short-term interest rate pressures.

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