Neste Corporation, Stock Exchange Release, 18 March 2021 at 8 p.m. (EET)
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Neste Corporation issues a EUR 500 million green bond. The 7-year bond carries a coupon of 0.75 per cent. The bond offering was allocated to approximately 120 investors. Neste Corporation will apply for the listing of the bond on the official list of sustainable bonds of Nasdaq Helsinki Ltd. The bond represents the first issuance under the newly established Green Finance Framework.
The proceeds from the issue will be used in accordance with the Neste Corporation's Green Finance Framework to for example investments into the development, operations, maintenance and expansion of the company's renewable and circular solutions with the objective to mitigate climate change globally by reducing greenhouse gas emissions.
Barclays Bank Ireland PLC, Citigroup Global Markets Limited and Nordea Bank Abp acted as joint lead managers for the transaction and Nordea Bank Abp acted as Green Structuring Advisor.
"With the issuance of our first Green Bond, we are providing investors the opportunity to support our objective to mitigate climate change globally by reducing greenhouse gas emissions through our renewable and circular solutions," says Mika Rydman, Vice President and Group Treasurer, Neste.
Vice President, Communications
Mika Rydman, Vice President and Group Treasurer, Neste.
Please contact Neste's media service, tel. +358 50 458 5076 / firstname.lastname@example.org (weekdays from 8:30 a.m. to 4:00 p.m. (EET)).
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world's leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world's most sustainable companies. In 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the company's comparable operating profit coming from renewable products. Read more: neste.com
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