UPM issues its second green bond
UPM has successfully issued a new EUR 500 million green bond under its EMTN (Euro Medium Term Note) programme and its Green Finance Framework. The bond matures in March 2031 and pays a fixed coupon of 0.50%. UPM will apply for the bond to be listed on the Irish Stock Exchange plc, trading as Euronext Dublin.
Citigroup, BNP Paribas, Danske Bank and Nordea acted as Joint Bookrunners for the transaction.
The net proceeds from the bond will be used for financing and/or refinancing of Eligible Projects and Assets under UPM’s Green Finance Framework established in November 2020. The indicative allocation of the framework categories to be used is sustainable forest management, climate positive products and solutions and pollution prevention and control, including waste management.
“We have successfully issued our second green bond and are again delighted for the confidence shown by the investors. This new green bond issue is further supporting us in achieving our responsibility targets as defined in our Biofore strategy,” says UPM´s CFO Tapio Korpeinen.
The base prospectus and the Green Finance Framework are available on UPM’s website at www.upm.com/investors/upm-as-an-investment/debt/.
For further information please contact:
Kenneth Råman, SVP, Treasury and Risk Management, UPM, tel. +358 400 477 287
UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
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We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,000 people worldwide and our annual sales are approximately EUR 8.6 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com