By Mary-Katherine Stinson
Lexington, Ky., May 16 – UPM-Kymmene Corp. issued €500 million 2.25% green bonds under its euro medium-term note program and green finance framework, according to a press release.
The bond matures in May 2029 and represents the company’s third green bond.
The company will apply for the bond to be listed on the Irish Stock Exchange, trading as Euronext Dublin.
Proceeds will be used for financing and/or refinancing of eligible projects and assets under UPM’s green finance framework established in November 2020 in the categories of climate-positive products and solutions, sustainable forest management and pollution prevention and control, including waste management.
Citigroup, Commerzbank, Credit Agricole CIB, Nordea and Swedbank were the joint bookrunners for the transaction.
UPM-Kymmene is a Finnish forest industry company.
| Issuer: | UPM-Kymmene Corp.
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| Amount: | €500 million
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| Issue: | Green bonds
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| Maturity: | May 2029
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| Bookrunners: | Citigroup, Commerzbank, Credit Agricole CIB, Nordea and Swedbank
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| Coupon: | 2.25%
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| Announcement date: | May 16
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