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Together with the German trading platform firstwire and DekaBank, Vasakronan has completed its first bilateral loan in the form of a German Namensschuldverschreibung (NSV, a German law registered bond).
Together with the German trading platform firstwire and DekaBank, Vasakronan has completed its first bilateral loan in the form of a German Namensschuldverschreibung (NSV, a German law registered bond).
The green digital loan confirms the leading role that Vasakronan holds in the field of green finance for several years already and combines it with the benefits of digitalisation. It is the first of its kind in the European market.
The deal was concluded via the digital trading platform firstwire, which enabled Vasakronan and the investor DekaBank to process the transaction without a third party. In the process, everything from negotiation to contract administration is handled digitally via firstwire, while settlement and record keeping are carried out on the SWIAT (Secure Worldwide Interbank Asset Transfer) platform developed by DekaBank, which is based on blockchain technology.
"By borrowing in an entirely new market, we're creating more opportunities to broaden our investor base. A green NSV is in line with our long-term environmental goals and carrying it out digitally, without third parties, simplifies the loan process," says Thomas Nystedt, Group Treasurer at Vasakronan.
Vasakronan was advised by kallan in this transaction. The kallan team included Christina Griebeler and Sven Cordes.