UPM issues its fourth Green Bond

Wed, Aug 21, 2024 17:45 CET

(UPM, Helsinki, 21 August 2024 at 18:45 EEST) – UPM has successfully issued a new EUR 600 million Green Bond under its EMTN (Euro Medium Term Note) Programme and Green Finance Framework. The bond matures in August 2034, pays a fixed annual coupon of 3,375% and is expected to be rated BBB+ by S&P Global Ratings. UPM will apply for the bond to be listed on the Irish Stock Exchange plc, trading as Euronext Dublin.

BNP Paribas, Danske Bank, J.P. Morgan, OP Corporate Bank and SEB acted as joint bookrunners for the transaction.

The net proceeds of the issue will be used to finance and/or refinance Eligible Projects and Assets under UPM's updated Green Finance Framework from November 2023. The indicative allocation of the framework categories to be used are sustainable forest and plantation management, climate-positive and circular bioeconomy adapted products and solutions, and renewable or CO2-free energy.

"With the successful fourth issuance, UPM further strengthens its position as one of the largest corporate Green Bond issuers in the Nordics with a total of EUR 2,350 million issued. We are once again pleased with the confidence and interest shown by investors. This fourth Green Bond further links our financing to our sustainability goals and supports our overall Biofore strategy," says Tapio Korpeinen, CFO of UPM.

The EMTN Base Prospectus, the Supplement to the EMTN Base Prospectus and the Green Finance Framework are available on UPM's website at www.upm.com/investors/upm-as-an-investment/debt/.

For further information please contact:
Kenneth Råman, SVP, Treasury and Risk Management, UPM, tel. +358 400 477 287

UPM, Media Relations
Mon-Fri 9:00–16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 16,600 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

UPM issues its fourth Green Bond

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