FINLAND (News release) -- Metsä Board Corporation, part of Metsä Group, has signed a bank financing facility consisting of a Euro 150 million, five-year term loan and a Euro 200 million, five-year multicurrency revolving credit facility ("RCF") with two one-year extension options and a Euro 50 million accordion option. The margin of the RCF is linked to sustainability criteria that are based on selected Metsä Board's 2030 sustainability targets: reduction in specific water consumption and reduction in specific energy consumption.
The new facility will be used to repay the existing Euro 50 million term loan and to replace the undrawn Euro 150 million revolving credit facility maturing in March 2020.
Nordea acted as coordinator and the other mandated lead arrangers and lenders are Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, DNB Bank ASA, Handelsbanken, OP, SEB and Swedbank.
"Linking the pricing of our financing to sustainability criteria demonstrates the management's strong commitment to reaching our recently announced, very ambitious 2030 sustainability targets," says Jussi Noponen, CFO of Metsä Board.
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