Teollisuuden Voima Oyj has priced a EUR 600 million bond

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

TVO will issue a EUR 600 million five-year bond with an annual coupon of 2.625 percent. The bond will be issued under the Company’s EMTN programme and listed on the Luxembourg Stock Exchange.

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

On 23 March 2022, TVO announced that it has made an invitation to holders of its outstanding EUR 311.77 million 2.625 percent Notes due 13 January 2023 (XS1514470316) to tender their Notes for purchase by TVO for cash. TVO proposes to accept any-and-all of the outstanding Notes for purchase. The tender offer is made on the terms and subject to the conditions as set out in the Tender Offer Memorandum dated 23 June 2022.

BNP Paribas, Credit Agricole Corporate and Investment Bank, Nordea Bank Abp, and Swedbank AB acted as Joint Bookrunners for the new bond issue. Nordea Bank Abp and Swedbank AB 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.