Neste Corporation, Press Release, 15 November 2023 at 8 a.m. (EET)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR SUCH OTHER COUNTRIES OR OTHERWISE IN SUCH CIRCUMSTANCES IN WHICH THE OFFERING OF THE NOTES OR THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Neste Corporation issues a EUR 600 million green bond with 7.5-year maturity under its EMTN (Euro Medium Term Note) programme established on 6 March 2023 as supplemented by the supplement dated 9 November 2023, and will pay a fixed coupon of 3.875 per cent. Neste Corporation will apply for the listing of the bond on Euronext Dublin.
The proceeds from the issue will be applied for Eligible Projects and Assets as set out in Neste Corporation’s Green Finance Framework.
The base prospectus dated 6 March 2023 as supplemented by the supplement dated 9 November 2023 and the Green Finance Framework are available on Neste Corporation’s website at www.neste.com/investors/credit/prospectuses and www.neste.com/investors/credit/green-finance.
“It was very encouraging to see the strong investor support for Neste on our third green bond issue of the year. The orderbook reached over 5 times oversubscribed, with participation from institutional investors across Europe. The successful outcome serves as a vindication of our strategy, transformation, and vision to become a global leader in renewable and circular solutions,” says Martti Ala-Härkönen, Chief Financial Officer of Neste.
Barclays Bank Ireland PLC, Citigroup Global Markets Limited, Credit Agricole Corporate and Investment Bank, OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) acted as joint lead managers for the transaction.
Vice President, Communications
For more information, please contact:
Martti Ala-Härkönen, Executive Vice President, CFO, Strategy and IT, Neste, tel: +358 40 737 6633
Katariina Perkkiö, Vice President, Group Treasurer and Chief Risk Officer, Neste, tel: +358 50 458 1492
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.
As the world’s leading producer of sustainable aviation fuel and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, Neste helps its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.
The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com
The information contained in this release shall not constitute an offer to sell or the solicitation of offers to buy securities of Neste Corporation in any jurisdiction and the information contained herein may not be distributed or published in any jurisdiction or under any circumstances in which it is not authorized or is unlawful. In particular, this release does not constitute an offer to sell, or a solicitation of offers to buy or subscribe for, securities in the United States or in any other jurisdiction or under the circumstances described in the base prospectus available at www.neste.com/investors/credit/prospectuses. Any securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered, exercised or sold in the United States or to U.S. persons absent registration or an applicable exemption from registration requirements. Any offering of securities made outside the United States will be made in offshore transactions in reliance on Regulation S under the Securities Act and by means of the base prospectus.
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