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Catena is signing a new loan agreement with Nordiska investeringsbanken (the Nordic Investment Bank). The agreement is for SEK 430 million with a maturity of eight years and is linked to Catena's project with Elgiganten in Jönköping.
06 July 2023 at 16:00 CEST
Catena works purposefully to achieve a sustainable and profitable business, which includes a sustainable and climate-friendly way of working. Together with Nordiska investeringsbanken, Catena has now signed a new credit facility of SEK 430 million with a maturity of eight years linked to the project in Jönköping with Elgiganten.
The logistics facility in Jönköping is expected to be completed in 2024 and will be certified to BREEAM Excellent standard, while also being the first major logistics facility to be certified according to Well Core, an international social sustainability certification. The facility will also have one of Sweden's largest photovoltaic systems on the roof and will make a positive contribution to the power network through excess electricity production. The construction is also unique, as the frame of the facility will be made of glulam, which will significantly reduce greenhouse gas emissions during construction.
The investment, including land acquisition, will amount to SEK 862 million. The facility makes it possible for Elgiganten to move its central warehouse from the Czech Republic to Sweden. The central location close to the domestic market is expected to improve customer service, reducing lead times and greenhouse emissions for deliveries. The launch of the facility is also expected to create 600 new jobs in the Jönköping region in the long term.
"Catena's commitment to establishing a sustainable logistics facility in Jönköping sets a new standard for the industry," says André Küüsvek, President and CEO of NIB. "By prioritising cleaner and more energy-efficient logistics, they are leading the way towards a greener future. "We are proud to be supporting their vision and contributing to the development of a more sustainable logistics sector in Sweden."
"We view our newly established business relationship with the Nordic Investment Bank very positively," says David Silvesjö, Chief Treasury Officer at Catena. "The fact that our work and our long-term commitments linked to sustainability are attracting more sources of funding is in line with our strategy. This transaction broadens our investor base, increases the capital tie-up and, above all, it supports our overall goal of reducing our carbon footprint to achieve net zero by 2030."
NIB is an international finance institution owned by the eight member countries of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank finances private and public sector investment projects within and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, at leading credit rating institutes Standard & Poor's and Moody's.
For further information, please contact:
David Silvesjö, Chief Treasury Officer, Tel. +46 (0)730 70 22 22, david.silvesjo@catena.se
Amanda Thynell, Sustainability Manager, Catena, Tel. +46 (0)72 510 03 01 amanda.thynell@catena.se
Jörgen Eriksson, CEO, Tel. +46 (0)730 70 22 42, jorgen.eriksson@catena.se