Nokian Tyres publishes a Sustainability-Linked Bond Framework

Nokian Tyres plc Press Release on 30 May 2023 at 10:30 a.m. EEST.

Nokian Tyres plc (the “Company”) has established a Sustainability-Linked Bond Framework (the “Framework”). Under the Framework, the Company can issue securities, including but not limited to bonds, with a sustainability-linkage. For the securities issued under the Framework, the interest rate, or other financial characteristics, of a security will change if the Company fails to meet the predefined Sustainability Performance Target by an agreed review date.

“Sustainability is one of Nokian Tyres’ strategic cornerstones. We have been working in this field for a long time and have set ambitious non-financial targets for ourselves, keeping the company as a frontrunner in sustainability in the tire industry. The framework directly links our sustainability targets to the company’s financing and is a strong signal to investors of our ambition and commitment to develop sustainability”, comments Teemu Kangas-Kärki, CFO of Nokian Tyres.

The Framework is issued in accordance with the International Capital Markets Association’s Sustainability-Linked Bond Principles 2020 which is a voluntary framework providing guidelines on how forward-looking sustainability goals can be integrated into bonds. The Framework has been established in order to align the Company’s sustainability plan with its long-term financing strategy.

The Framework together with the external second party opinion are available on the Company website at https://www.nokiantyres.com/company/investors/financials/debt-and-financing/ 

Nordea Bank Abp and OP Corporate Bank plc act as joint sustainability structurers in connection with the Framework.

Further information:
Teemu Kangas-Kärki, CFO, tel: +358 10 401 7750
Investors: ir@nokiantyres.com

Nokian Tyres develops and manufactures premium tires for people who value safety, sustainability and predictability. Our purpose is to empower the world to drive smarter. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2022, our segments net sales totaled EUR 1,350 million. At the end of 2022 we employed some 3,300 professionals. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com.