BEWI issues five-year senior unsecured sustainability-linked bonds of EUR 160 million
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Today, BEWI ASA (“BEWI”) announces that it has successfully issued new senior unsecured floating rate sustainability-linked bonds in an amount of EUR 160,000,000 under a framework of EUR 250,000,000 due in September 2026 (the “New Bonds”). The interest rate of the New Bonds is EURIBOR 3m + 3.15 per cent.
“We are very pleased with how this transaction has been received in the bond market. This successful bond issue, which was oversubscribed, demonstrates that investors, both existing and new, have comfort in our sustainable business model and BEWI’s solid strategic growth outlook, including both organic growth initiatives and attractive M&A opportunities. The issue of new bonds and increase of revolving credit facilities, as well as the extended maturity profile, further strengthen our financial flexibility to pursue these growth opportunities,” says Christian Bekken, CEO of BEWI.
As announced on 19 August 2021, BEWiSynbra Group AB (publ) (a wholly owned subsidiary of BEWI) will utilise its option to redeem early the up to EUR 100,000,000 Senior Secured Floating Rate Notes due 2022 (ISIN: SE0010985556) and the up to EUR 115,000,000 Senior Secured Floating Rate Notes due 2023 (ISIN: SE0013409455) (collectively referred to as the “Bonds”). Further, as part of the refinancing, the BEWI group will refinance its existing revolving credit facilities with new revolving credit facilities as well as increase the amount.
BEWI intends to list the New Bonds on the Sustainability bond list at Nasdaq Stockholm.
Carnegie AS, DNB Markets, a part of DNB ASA and Nordea Bank Abp have acted as Joint Bookrunners with respect to BEWI’s issue of New Bonds. DNB Markets, a part of DNB ASA and Nordea Bank Abp have acted as Sustainability Structuring Advisors.
For further information, please contact:
Charlotte Knudsen, Director of IR and Communications BEWi ASA, tel: +47 9756 1959
Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 0047
About BEWI ASA
BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
BEWI ASA is listed at the Oslo Børs under ticker BEWI.
The information is such that BEWI ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 21:00 CEST on 24 August 2021