The new facility matures in February 2030 and includes two 12-month extension options. The margin of the facility is designed to vary based on Outokumpu’s reduction of carbon emissions in line with the emission reduction targets approved by the Science Based Targets initiative for 2030.
Marc-Simon Schaar, Chief Financial Officer at Outokumpu, stated: “To ensure sufficient liquidity for the coming years, we are renewing our existing credit facility. We are the sustainability leader in our industry, and to demonstrate our commitment to our sustainability targets, we have agreed with the banks that the interest margin of the new facility will be linked to the reduction of CO₂ emissions.”
BNP Paribas SA, Bankfilial Sverige, Crédit Agricole Corporate and Investment Bank Helsinki Branch, Danske Bank A/S Finland Branch, Nordea Bank Abp, OP Corporate Bank Plc, Skandinaviska Enskilda Banken AB (Publ), Swedbank AB (Publ), and UniCredit Bank Austria AG acted as Mandated Lead Arrangers and Bookrunners. Danske Bank A/S and Nordea Bank Abp served as Joint Coordinators for the transaction.
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