Teollisuuden Voima Oyj has priced a EUR 500 million EU Green bond
Teollisuuden Voima Oyj (TVO) has priced a EUR 500 million EU Green bond and announced a tender offer for its Eurobonds maturing in March 2026 and March 2027.
TVO has launched a EUR 500 million 7,5 year EU Green bond with an annual coupon of 3.625 percent. The bond will be issued under the Company’s EMTN programme and will be listed on the Luxembourg Stock Exchange.
The proceeds will be used to finance or refinance, in whole or in part, Eligible Green Projects in accordance with TVO´s European Green Bond Factsheet.
On 8 September 2025, TVO announced that it has made an invitation to holders of its outstanding EUR 650 million 1.125 percent Notes due 9 March 2026 (XS2049419398) and holders of its outstanding EUR 600 million 2.625 percent Notes due 31 March 2027 (XS2463934864) to tender their Notes for purchase by TVO for cash.
TVO proposes to accept any-and-all of the outstanding of the 2026 Notes and a maximum of EUR 200 million of the 2027 Notes for purchase. The tender offer is made on the terms and subject to the conditions as set out in the Tender Offer Memorandum dated 8 September 2025.
Danske Bank, NatWest, OP Corporate Bank and SEB acted as Joint Bookrunners for the new bond issue. Danske Bank and NatWest are acting as Joint Dealer Managers on the tender offer.