Finnish paper packaging and wood construction specialist Stora Enso Oyj (HEL:STERV) said it has issued two new EUR-500-million (USD 536.7m) green bonds that will support the company’s sustainability commitments and actions.
The bonds were issued under the company’s new combined Green and Sustainability-Linked Financing Framework which was launched in May 2023. They will be listed on the Luxembourg Stock Exchange, a press release said on Thursday.
The green bonds have three and 6.25-year maturities and pay a fixed coupon of 4.00% and 4.25%, respectively. BNP Paribas, Credit Agricole CIB, Danske Bank and SEB acted as joint lead managers and bookrunners for the transaction.
The proceeds from the bond issuance will go to finance eligible projects and assets focused on six major categories: sustainable forest management; sustainable product processes; energy efficiency; renewable energy and waste to energy; sustainable water management; and waste management and pollution control.