Teollisuuden Voima Oyj has priced a EUR 600 million bond

Report this content

Teollisuuden Voima Oyj has priced a EUR 600 million bond and announced a tender offer for its Eurobond maturing in January 2023.

Teollisuuden Voima Oyj (TVO) will issue a EUR 600 million seven year bond with an annual coupon of 1.375 per cent. The bond will be issued under the Company’s EMTN programme and listed on the Luxembourg Stock Exchange.

On the 14th of June TVO announced that it has made an invitation to holders of its outstanding EUR 500 million 2.625 per cent Notes due 13 January 2023 (XS1514470316) to tender their Notes for purchase by TVO for cash. TVO proposes to accept Notes for purchase for any-and-all of the outstanding Notes. The tender offer is made on the terms, and subject to the conditions, set out in the Tender Offer Memorandum dated 14 June 2021.

The proceeds of the bond issue will be used for general corporate purposes including financing of the tender offer.

Danske Bank A/S, NatWest Markets, OP Corporate Bank and SEB acted as Joint Bookrunners for the new bond issue. Danske Bank A/S and SEB are acting as Joint Dealer Managers on the tender offer.

For further information, please contact:
Lauri Piekkari, Senior Vice President, Treasury, TVO, tel. +358 (0) 50 357 8623.

Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for 40 years. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth, increasing to nearly one third once Olkiluoto 3 is completed, of the electricity consumption in Finland. Climate-friendly nuclear electricity not only benefits society but also reduces the environmental impact of energy production. Moreover, the world's first final disposal facility for spent nuclear fuel is under construction in Olkiluoto.