Stora Enso has successfully issued two new EUR 500 million green bonds under its EMTN (Euro Medium Term Note) programme. The bonds have 3 and 6.25 year maturities and pay a fixed coupon of 4.00% and 4.25% respectively. The bonds are issued under Stora Enso’s new combined Green and Sustainability-Linked Financing Framework launched in May 2023. The issue price for the 3 year bond was 99.928 equivalent to a yield of 4.026% and Euro Mid-Swaps +65 basis points and for the 6.25 year bond 99.64 equivalent to a yield of 4.32% and Euro Mid-Swaps +120 basis points.
There are no financial covenants included in the bond documentation. The bonds will be listed on the Luxembourg Stock Exchange. The joint lead managers and bookrunners for the transaction are BNP Paribas, Crédit Agricole CIB, Danske Bank and SEB.
“Our first green bond was issued in 2019 and our first EUR denominated green bond was issued in November 2020. We are very pleased with this issuance of our green euro bonds under the new framework and the trust shown by the investors. This issuance fits our sustainable finance strategy well and supports us in further accelerating our sustainability commitments and actions,” says Kaarlo Höysniemi, SVP Group Treasury.
The proceeds from the new bonds will be used to finance eligible projects and assets that promote the transition towards a low-carbon and environmentally sustainable society in accordance with Stora Enso’s sustainability agenda and goals. The six eligible asset categories are: sustainable forest management, sustainable product processes, energy efficiency, renewable energy and waste to energy, sustainable water management, and waste management and pollution control.
IL BIOECONOMISTA 