Three board members, Enver Duminy, Ravi Nadasen and Rosemary Anderson, resigned in February amid the controversial R1-billion Tottenham Hotspur sponsorship proposal.
The company sold off several segments of its business last year and also completed four securitizations of reverse mortgage loans as it fully commits to the 'retirement home-equity market.'
Minus the adjustment made to account for stock price declines and goodwill, the company’s countercyclical mix of loan products was profitable, but secondary-market volatility presents a challenge ahead.
Great interest in Scania s first Green Bond
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SÖDERTÄLJE, Sweden, Jan. 15, 2021 /PRNewswire/
Scania has now issued its first green bond. About 30 Nordic banks, insurance companies and pension fund managers participated. The bidding resulted in Scania raising loans totalling SEK 1.25 billion with a 4-year maturity for investments that the company is making to convert to production of electric vehicles.
It was at the end of 2020 that Scania - as the first pure manufacturer of commercial vehicles - received approval for the company s framework for issuing green bonds. The great interest in our green bond confirms the financial community s willingness to enter into the partnerships needed to phase out fossil dependence in the world. At the same time, it also confirms the financial community s confidence in our work to drive the transition to a sustainable transport system, says Scania s Chief Financial Officer Johan Haeggman.