Financial information

Swedavia is a State-owned company that owns, operates and develops ten airports across Sweden.

The company is wholly owned by the Swedish State and has medium-term notes listed on the Nasdaq OMX Stockholm exchange. Swedavia's information shall be characterised by transparency, clarity and relevance. Financial information and facts that affect you as an investor, analyst or someone generally interested in Swedavia are found here.

Financial news

Swedavia promptly discloses all new information that can be considered by others to be important in an assessment of Swedavia’s value or creditworthiness. The Group has thus established a speedy, non-discriminatory news flow from Swedavia to the general public. The news considered to be of such a nature is found here.


Swedavia was formed on April 1, 2010. The reports published by the Group since then are found here. Swedavia’s Board of Directors is ultimately responsible for the financial reports and information provided in annual reports and interim reports. The Group strives to incorporate sustainability aspects in all parts of operations and to reflect this in its financial reports.


Swedavia's funding operations and risk management are a centralised function in which operations are carried out based on a financial policy adopted by the Board of Directors.

Operations are characterised by a low level of risk. The aim is to minimise the Group's capital cost through effective financial solutions as well as effective management and control of the Group's financial risks. Swedavia's borrowing strategy is to have diversified and flexible funding in line with current needs, with borrowing in both the capital and bank markets.

For questions concerning Swedavia's funding, please contact:
Nils-Erik Forsberg, tel. +46 10 109 00 67, e-mail:

Green bonds

The framework enables Swedavia to issue green bonds under its existing medium-term note (MTN) programme, but with the purpose of financing investments and projects in climate change adaptation and sustainability.

Swedavia's green bond framework has been developed in line with the industry standard Green Bond Principles and has undergone an independent evaluation by the Center for International Climate Research, Cicero. Please see Cisero’s ”Second Party Opinion” below.

Four of the five project categories have been given the organisation’s highest rating, “Dark green.” One of the categories, green buildings and infrastructure, has been rated “Light green,” which is also Cicero’s overall rating for the framework.

In its assessment, Cicero has taken into consideration the fact that the framework allows investments in airport infrastructure to increase capacity, which can entail a bigger environmental impact related to air traffic.

At the same time, Cicero has highlighted Swedavia as a role model for airports globally. Cicero has given the management and governance structures of Swedavia’s green framework an “Excellent” rating.

Swedavia will annually publish a Green Bond Impact Report with an account of how the funds have been used.

Documents – Green financing

Swedavia Green Bond Framework 

Cicero Second Opinion 

Issued bonds

MTN loan 122

Medium-term note programme

MTN programme

Programme launch: 2012
Scope: SEK 15,000 M
Ownership clause: Redemption possible if the Swedish State's ownership falls below 100%
Arranger: SEB

Base prospectus and final terms

(in Swedish only)

Swedavia MTN-program base prospectus December 2019

Swedavia MTN-program base prospectus 2019

Swedavia MTN-program base prospectus 2018

Swedavia MTN-program tilläggsprospekt 2017-1

Swedavia MTN programme base prospectus, 2017

Swedavia MTN programme base prospectus, 2016

Swedavia MTN programme base prospectus, 2015

Swedavia MTN programme base prospectus, 2014

Swedavia MTN programme base prospectus, 2013

MTN loan 101

MTN loan 102

MTN loan 103

MTN loan 104

MTN loan 105

MTN loan 106

MTN loan 107

MTN loan 108

MTN loan 109

MTN loan 110

MTN loan 111

MTN loan 113

MTN loan 114

MTN loan 115

MTN loan 116

MTN loan 117

MTN loan 118

MTN loan 119

MTN loan 120

MTN loan 122

Issuing institution:


Stockholm 08-463 46 50
Regionbanken Stockholm 08-701 28 80
Göteborg 031-743 32 10
Malmö 040-24 39 50
Gävle 026-17 20 80
Linköping 013-28 91 60
Umeå 090-15 45 80

Danske Bank A/S

Stockholm 08-568 805 77
Köpenhamn +45 45 14 32 46

Nordea Bank Abp

Nordea Markets
Smålandsgatan 17
105 71 Stockholm
Tel: 08-407 90 85, 08-407 91 11, 08-407 92 03

Arctic Securities

Biblioteksgatan 8
102 40 Stockholm
Tel. 08-614 25 97

SEB Merchant Banking, Capital Markets

Stockholm 08-506 231 73, 08-506 231 95
Göteborg 031-774 91 00
Malmö 040-667 69 20


Penningmarknad 08-700 99 00
Stockholm 08-700 99 99
Göteborg 031-739 78 20
Malmö 040-24 22 99

DNB Bank ASA, filial Sverige

Stockholm 08-473 41 00

Hybrid bonds

Swedavia  AB (publ) has successfully issued hybrid bonds in the total amount of SEK 1,000 million under a framework amount of SEK 1,00 million. The hybrid bonds has a perpetual tenor and a floating interest rate of three-months STIBOR + 150 basis points until the first call date 2024-11-26.

Terms and conditions – hybrid bond SE0013486271, pdf

Prospectus – hybrid bond SE0013486271,pdf

Commercial paper programme

Commercial paper programme

Programme launch: 2012
Scope: SEK 5,000 MSEK
Maturity: <1 year
Ownership clause: Redemption possible if the Swedish State's ownership falls below 100%
Issuing and Paying Agent (IPA): Handelsbanken
Arranger: Handelsbanken
Clearing system: Euroclear Sweden

Swedavia's commercial paper programme - pdf, 131 Kb (in Swedish only)

Issuing institution

Blasieholmstorg 11, 106 70 Stockholm,
Regionbanken Stockholm

08-463 46 50
031-743 32 10
040-24 39 50
026-17 20 80
013-28 91 60
08-701 28 80
090-15 45 80

Danske Bank A/S, Danmark, Sverige Filial
Box 7523, Norrmalmstorg 1, 103 92 Stockholm

08-568 805 77
+45 45 14 32 46


Stockholm 08-614 94 79
Göteborg 031-771 65 19
Malmö 040-24 73 00

Kungsträdgårdsgatan 8, 106 40 Stockholm,
Merchant Banking, Capital Markets


08-506 231 73
08-506 231 95
031-774 91 00
040-667 69 10

105 34 Stockholm,

08-700 99 00
08-700 99 99
031-739 78 20
040-24 22 99

DNB Bank ASA, filial Sverige
Markets, Kungsgatan 18, plan 6, 105 88 Stockholm
08-473 48 50

Rating and credit analysis


Swedavia develops airports for the air travel of the future. In order to do this, the company plans to invest 42.3 billion Swedish kronor between 2016 and 2025. The largest investments are being made in capacity improvements at Stockholm Arlanda Airport. During the period 2016-2019, 12.6 billion kronor was invested.

Stockholm Arlanda Airport

Stockholm Arlanda Airport shall be developed into the leading airport in the Nordic region and be an international role model in sustainability. During the period 2016–2025, 27.0 billion kronor is being invested in, among other things, the expansion of Terminal 5, a new airport maintenance area, more aircraft parking stands, improved baggage systems and more security screening flows. 

The goal is increased capacity for passengers and airlines, more meeting places, better mass transit, increased access to shopping, restaurants and activities as well as more hotel and conference options.

Göteborg Landvetter Airport

Göteborg Landvetter Airport is and will continue to be western Sweden’s gateway to the world. The airport will get a number of new gates, increased terminal capacity, improved baggage handling and new traffic solutions around the airport. Hotels, logistics facilities, retail spaces and workplaces are taking shape in a new airport city. As a result, the airport will contribute to development in the region to an even greater extent. The total investment for 2016–2025 is expected to be 3.4 billion kronor.

Bromma Stockholm Airport

Bromma Stockholm Airport shall be an even more efficient city airport. The airport is being modernised in several phases. A new arrival hall was completed in 2018, and a roof extending from the terminal to the aircraft parking stands is now in place. A modernised departure hall was inaugurated during the year. The airport has a terminal that can handle 1,200 passengers an hour in peak traffic. Preparations are under way for the planned expansion of Stockholm’s Tvärbanan crosstown rail service, so flows for bus and taxi traffic are being continuously improved. During the period 2016–2025, about 1.7 billion kronor is being invested in the airport.

Regional airports

All seven of Swedavia’s regional airports shall be accessible to residents, businesses and tourists. The airports are being developed and modernised to increase both efficiency and capacity and to make them important meeting places. They are in many ways vital to the development of these regions. During the period 2016-2025, about 1.9 billion kronor is being invested in the airports.

Real Estate

Swedavia’s work to develop properties close to the terminals is run under the Real Estate operating segment. The goal is to develop land adjacent to the airports to realise value, which can then be used to develop the airports. During the period 2016-2025, 5.0 billion kronor is being invested in the Real Estate segment, including for a new hotel and office complex at Stockholm Arlanda Airport and a new hotel at Göteborg Landvetter Airport.


Investments 2016-2025

SEK billion

Stockholm Arlanda


Of which the development programme


Of which the Master Plan


Göteborg Landvetter


Bromma Stockholm


Regional Airports


Real Estate