The Praxis Intermediate Income Fund has purchased $1 million in the Swedish Export Credit Corporation’s (SEK) five-year $500 million green bond – the first green bond issued by a European export credit body. Funds from the SEK green bond will finance exports of Swedish environmental technology and expertise to support climate friendly projects around the world.
The purchase augments the Praxis Mutual Funds’ continuing commitment of financing high-impact investment opportunities.
“We are very excited to be involved in the first Swedish Export Credit Corporation green bond,” said Benjamin J. Bailey, CFA, Co-Manager of the Praxis Intermediate Income Fund and Fixed Income Manager for Everence. “We appreciate the diligence that they have put into their green program, which builds on a history of sustainable financing.”
Praxis Mutual Funds, advised by Everence Capital Management, is a leader in green bond investments. The Praxis Intermediate Income Fund, specifically, has a history of purchasing bonds that make a targeted impact on climate and community. In 2009, the Praxis Intermediate Income Fund became one of the first socially responsible investors to purchase a U.S. dollar denominated World Bank green bond.
High social impact investments now make up more than 18 percent of the Praxis Intermediate Income Fund. Examples of other market rate investments include bonds in education, youth and employment bonds; auto industry asset-backed securities, real estate investment trust green bonds; solar and wind installations; poverty reduction; affordable housing; vaccines; medical research; and community infrastructure. The Fund’s high social impact investments also include community development investments, benefitting underprivileged communities national and abroad.
About Praxis Mutual Funds and Everence
Praxis Mutual Funds, advised by Everence Capital Management, is a leading faith-based, socially responsible family of mutual funds designed to help people and groups integrate their finances with faith values. To learn more, visit praxismutualfunds.com.
Everence helps individuals, organizations and congregations integrate finances with faith through a national team of advisors and representatives. Everence offers banking, insurance and financials services with community benefits and stewardship education. To learn more, visit everence.com or call (800) 348-7468.