By : Basel Khaled
Valmet has signed a new EUR 300 million sustainability-linked syndicated revolving credit facility (RCF) agreement. The new RCF refinances an existing EUR 200 million credit facility and will be used for general corporate purposes.
The facility has a tenor of 3 years with two 1-year extension options dependent on the approval of the banks concerned. The margin under the RCF will be partly adjusted based on Valmet’s progress in meeting its Climate program targets.
Valmet´s Climate Program – Forward to a carbon neutral future - includes ambitious CO₂ emission reduction targets and concrete actions for the whole value chain, including the supply chain, Valmet’s own operations, and customers’ use of Valmet’s technologies.
The Climate Program's targets have been approved by the Science Based Targets initiative. The program is fully aligned with the Paris Climate Agreement´s 1.5-degree pathway and United Nations Sustainable Development Goals.
Danske Bank A/S and Nordea Bank Abp acted as Coordinating Mandated Lead Arrangers and Bookrunners as well as Sustainability Coordinators for the facility while Bank of America, BNP Paribas, Citi, Credit Agricole Corporate & Investment Bank, OP Corporate Bank, SEB and Standard Chartered acted as Mandated Lead Arrangers. Danske Bank A/S is acting as Agent.