Sagax raises $313M in green bonds across three maturities

What's the deal? Swedish property company AB Sagax has issued unsecured bonds totalling US$362.6M (roughly $313 million) under its EMTN programme. The bonds carry an average maturity of 3.8 years and an initial interest rate of 3.4%.

The structure: The issue splits into three tranches. Sagax sold US$90.7M maturing in two years at a 0.50% annual credit spread, US$90.7M maturing in 3.3 years at a 0.70% spread, and US$181.3M maturing in five years at a 0.95% spread.

What's the endgame? Proceeds will be deployed in line with Sagax's Green Finance Framework, tying the raise to the company's sustainability commitments.

The signal: Staggered maturities and a green label reflect how commercial property firms are structuring debt to spread refinancing risk while courting sustainability-focused investors.

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