(UPM, Helsinki, 16 May 2022 at 18:15 EEST) - 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 May 2029 and pays a fixed coupon of 2.25%. UPM will apply for the bond to be listed on the Irish Stock Exchange plc, trading as Euronext Dublin.
Citigroup, Commerzbank, Crédit Agricole CIB, Nordea and Swedbank 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 are climate-positive products and solutions, sustainable forest management and pollution prevention and control, including waste management.
"With the successful third issuance, UPM becomes one of the largest corporate green eurobond issuers in the Nordics with a total of EUR 1,750 million issued. We are once again delighted for the confidence and interest shown by the investors. This third green bond continues to support us in achieving our responsibility targets as defined in our Biofore strategy," says UPM's CFO Tapio Korpeinen.
The base prospectus, supplement to 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 EEST
tel. +358 40 588 3284
media@upm.com
Disclaimer
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UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, 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 17,000 people worldwide and our annual sales are approximately EUR 9.8 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore - Beyond fossils. www.upm.com
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