Metsä Board has signed a EUR 250 million revolving credit facility agreement, with the margin linked to long-term climate and energy efficiency targets. The new facility replaces an undrawn EUR 200 million revolving credit facility maturing in January 2027.
The new facility has a five-year maturity and includes two one-year extension options subject to lenders' approval. It is intended for general corporate purposes.
The margin of the facility is linked to the following sustainability targets to be achieved by 2030:
- Fossil-based CO₂ emissions (Scope 1 + Scope 2, market-based): 0 tonnes
- Reduction of greenhouse gas emissions of upstream transportation and distribution (Scope 3, category 4): -30% per tonne kilometre from 2022 level
- Improvement in energy efficiency: +10% from 2018 level
Metsä Board's CFO Henri Sederholm: "The new revolving credit facility further strengthens Metsä Board's already strong financial position and increases flexibility to meet future needs. It also supports the transformation programme launched in July, which aims to improve the company's profitability and lay the foundation for long-term sustainable growth. The ambitious sustainability targets linked to the facility's pricing promote our transition towards fossil-free production and continuous improvement in energy efficiency."
Nordea Bank Abp and Swedbank AB (publ) acted as Coordinating Mandated Lead Arrangers and Bookrunners for the facility, while Crédit Agricole Corporate and Investment Bank, Helsinki Branch, Danske Bank A/S, DNB Bank ASA, OP Corporate Bank Plc and Skandinaviska Enskilda Banken AB (publ) acted as Mandated Lead Arrangers and Bookrunners.
