By Rachel Fixsen2021-06-11T15:35:00+01:00
The $152.5m (€125.7m) emerging markets social bond Alecta bought into this week was more than six years in the making, according to arranger Danske Bank, which hopes to put similar instruments together given high demand from other institutional investors.
Patrik Hökfelt, who has been heading up the project at Danske Bank, told IPE: “We had been discussing this for five or six years when we started the work on what ended up being this transaction.”
During that time, he said, a lot of ground was covered, and the work had not begun with the idea of a social bond.