Kährs Group lists sustainability-linked bond on Nasdaq Stockholm
Stockholm (Sweden) 02 August 2022 – Kährs BondCo AB (publ) (“Kährs”), a part of Triton portfolio company Kährs Group has announced the listing of the company´s SEK 1,450 000 senior secured sustainability-linked bond on the Nasdaq Stockholm Sustainable Bond List. The bonds carry a floating interest rate of STIBOR 3m + 6,00 per cent. per annum and matures 7 December 2026.
The bond is linked to the outcome of three sustainability goals:
- Reduce Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2025
- Define Science-based CO2 emission-reduction targets and achieve validation by SBTi by 2023
- Increase percentage of sustainably sourced wood to 87% by 2025
The sustainability-linked bond is the first of its kind from a Triton portfolio company and is another step in Triton’s broader strategy of sustainable finance solutions, together with further sustainability linked loans developed for Triton’s latest private equity funds Triton V and Triton Small Mid-Cap II.
“The bond is a clear and transparent representation of our “Planet Positive Journey”, which will enable us to continue being the leader in the sustainable development of the flooring industry. The financial structure will provide us with greater financial flexibility to invest in the next level of sustainable innovations and to continue our successful expansion outside the Nordic region,” said Johan Magnusson, President and CEO of Kährs Group.
“Triton has had an ESG Stewardship Programme incorporating ESG leadership since 2013. In consultation with its portfolio companies and in recognition of the fast-moving evolution of corporate sustainability, Triton sets forward-looking focus areas and associated objectives to drive improvement across the portfolio on an annual basis. This work is the foundation on which our portfolio companies, including Kährs, now meet increased investor interest in, and scrutiny of, the sustainable bond space” said Graeme Ardus, Head of ESG at Triton.
Kährs is a leading manufacturer and distributor of flooring with the aim of providing customer experiences beyond expectations. Kährs’ innovations have shaped the industry throughout its history and the company is dedicated to offering flooring solutions for every room, environment and need. The company delivers sustainable and durable flooring solutions to more than 70 countries. The Group has approximately 1,500 employees and annual sales of more than SEK 3.7 billion.
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer, and healthcare sectors. Triton invests in and supports the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.
The companies currently in Triton’s portfolio have combined sales of around EUR 18.1 billion and employ around 104,000 employees.
For further information: www.triton-partners.com