Bird & Bird recently advised Danske Bank on the MSEK 655 financing and refinancing transaction for Svensk Plaståtervinning AB (“SPÅ”) which were made available to SPÅ under Danske Bank’s green loan framework.

The proceeds from the financing will be used by SPÅ to build “Site Zero”, which when completed, will be the largest and most technologically advanced plastic recycling plant in the world and will operate without a carbon footprint.

SPÅ is a Swedish plastic recycling company that offers a nationwide system for collecting and recycling of plastic packaging in Sweden to companies with an extended producer responsibility. SPÅ is jointly owned by Plastbranschens Informationsråd, Dagligleverantörernas Förbund, Svensk Handel and Svensk Dagligvaruhandel and its head office and recycling plant is located in the municipality of Motala in Sweden.

Bird & Bird’s cross-border team in Helsinki and Stockholm included associates Josefina Aalto and Andreas Lundqvist and partner Olof Wetterling.