Valmet has signed a EUR 300 million syndicated revolving credit facility with a margin linked to its climate targets
Valmet has signed a EUR 300 million syndicated revolving credit facility with a margin linked to its climate targets
Valmet Oyj's press release on October 20, 2021 at 5:30 p.m. EEST
Valmet has signed a new EUR 300 million sustainability-linked syndicated revolving credit facility (RCF) agreement. The new RCF refinances an existing EUR 200 million credit facility and will be used for general corporate purposes. The facility has a tenor of 3 years with two 1-year extension options dependent on the approval of the banks concerned. The margin under the RCF will be partly adjusted based on Valmet’s progress in meeting its Climate program targets.
Valmet´s Climate Program – Forward to a carbon neutral future - includes ambitious CO₂ emission reduction targets and concrete actions for the whole value chain, including the supply chain, Valmet’s own operations, and customers’ use of Valmet’s technologies. The Climate Program's targets have been approved by the Science Based Targets initiative. The program is fully aligned with the Paris Climate Agreement´s 1.5-degree pathway and United Nations Sustainable Development Goals.
Danske Bank A/S and Nordea Bank Abp acted as Coordinating Mandated Lead Arrangers and Bookrunners as well as Sustainability Coordinators for the facility while Bank of America, BNP Paribas, Citi, Credit Agricole Corporate & Investment Bank, OP Corporate Bank, SEB and Standard Chartered acted as Mandated Lead Arrangers. Danske Bank A/S is acting as Agent.
Further information, please contact:
Reetta Antila, Vice President, Treasury, tel. +358 50 599 3114
VALMET
Corporate Communications
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.
Valmet's net sales in 2020 were approximately EUR 3.7 billion. Our 14,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.
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