Metsä Board has signed a bank financing facility with sustainability targets
Metsä Board Corporation Investor news 1 October 2019
Metsä Board Corporation, part of Metsä Group, has signed a bank financing facility consisting of a EUR 150 million, five-year term loan and a EUR 200 million, five-year multicurrency revolving credit facility (“RCF”) with two one-year extension options and a EUR 50 million accordion option. The margin of the RCF is linked to sustainability criteria that are based on selected Metsä Board’s 2030 sustainability targets:
- Reduction in specific water consumption
- Reduction in specific energy consumption
The new facility will be used to repay the existing EUR 50 million term loan and to replace the undrawn EUR 150 million revolving credit facility maturing in March 2020. Nordea acted as coordinator and the other mandated lead arrangers and lenders are Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, DNB Bank ASA, Handelsbanken, OP, SEB and Swedbank.
“Linking the pricing of our financing to sustainability criteria demonstrates the management’s strong commitment to reaching our recently announced, very ambitious 2030 sustainability targets,” says Jussi Noponen, CFO of Metsä Board.
METSÄ BOARD CORPORATION
For further information, please contact:
Jussi Noponen, CFO, tel. +358 10 465 4913
Katri Sundström, VP, Investor Relations, tel. +358 10 462 0101
Metsä Board
www.metsaboard.com
Metsä Board is a leading European producer of premium fresh fibre paperboards including folding boxboards, food service boards and white kraftliners. Our lightweight paperboards are developed to provide better, safer and more sustainable solutions for consumer goods as well as retail-ready and food service applications. We work together with our customers on a global scale to innovate solutions for better consumer experiences with less environmental impact. The pure fresh fibres Metsä Board uses are a renewable resource, traceable to origin in sustainably managed northern forests.
The global sales network of Metsä Board supports customers worldwide, including brand owners, retailers, converters and merchants. In 2018, the company’s sales totalled EUR 1.9 billion, and it has approximately 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.
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Metsä Group
www.metsagroup.com
Metsä Group is a forerunner in sustainable bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh fibre paperboards and tissue and greaseproof papers.
In 2018, Metsä Group’s sales totalled EUR 5.7 billion, and it employs approximately 9,300 people. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 103,000 Finnish forest owners.
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