Teollisuuden Voima Oyj (TVO) has priced a EUR 600 million green bond and announced a tender offer for its Eurobond maturing in February 2025.
TVO has launched a EUR 600 million seven-year green bond with an annual coupon of 4.25 percent. The bond will be issued under the Company’s EMTN programme and will be listed on the Luxembourg Stock Exchange.
The net proceeds of the Green Bond issued by TVO will finance or refinance, in whole or in part, Eligible Green Projects in accordance with TVO’s Green Bond Framework, published in June 2023.
On 13 May 2024, TVO separately announced that it has made an invitation to holders of its outstanding EUR 500 million 2.125 percent Notes due 4 February 2025 (XS1183235644) 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 13 May 2023.
BNP Paribas, Crédit Agricole CIB, Nordea and Swedbank acted as Joint Bookrunners for the new bond issue. Nordea and Swedbank are acting as Joint Dealer Managers on the tender offer.
