Sweden’s biggest property company – which is owned by four of the country’s national pension buffer funds – has issued SEK610m (€58.9m) of green commercial paper.

Vasakronan, owned jointly between AP1, AP2, AP3 and AP4, said it was the first time such shorter-term financing instruments had been offered with funds earmarked for green assets.

Investors in the issue included Nordea Asset Management and SEB Investment Management, the company said.

Vasakronan is already the biggest issuer of green corporate bonds in the Nordics, having begun selling the securities in 2013.

The property firm said it had also drawn up a revised and expanded framework for green financing, covering all debt instruments with funds earmarked for green investments.

This set of conditions had been reviewed by the Centre for International Climate and Environmental Research (CICERO) and given the highest mark available of “dark green”, it said.

Thomas Nystedt, group treasurer at Vasakronan, said: “It has become apparent that everyone profits from working with sustainability.

“Our ongoing launch of new green debt instruments means we are offering the capital markets further possibilities to actively pursue a lower environmental impact.”

The first three tranches of the commercial paper will amount to SEK610m and have been issued in conjunction with SEB.

The notes will be listed on Nasdaq Stockholm’s new green commercial paper list, it said.

Other investors in the issue include Alcur Fonder, LKAB, Länsförsäkringar Fondförvaltning and Swedbank Robur.