Teollisuuden Voima Oyj issued a EUR 600 million bond

Teollisuuden Voima Oyj (TVO) has issued a new EUR 600 million bond.

The seven-year bond was issued under TVO's EMTN programme. An application has been made for the bond to be admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The reoffer yield of the bond is equivalent to a 7-year Euro midswap rate of -0.129% +1.550%. The coupon is 1.375% and the issue price is 99.696%.

Danske Bank A/S, NatWest Markets, OP Corporate Bank, and SEB acted as Joint Bookrunners for the new bond issue.

The proceeds of the bond issue will be used for the financing of the tender offer on TVO’s Notes due 13 January 2023 (XS1514470316) and for general corporate purposes.

The tender offer results were announced on 22 June 2021. The aggregate principal amount validly offered for purchase by the noteholders was EUR 177,223,000. TVO accepted all valid instructions pursuant to the tender offer. Danske Bank A/S and SEB acted as Joint Dealer Managers for the tender offer.

 

For further information, please contact:
Lauri Piekkari, Senior Vice President, Treasury, 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.