Tornator issues EUR 50 million of new senior secured green notes

Tornator Oyj Stock Exchange Release, 10 July 2023 at 4.00 PM Tornator issues EUR 50 million of new senior secured green notesTornator Oyj ("Tornator") has signed a new long-term debt arrangement with Manulife, a major global insurance and investment company as well as one of the leading forestland investors in the world. The new notes are issued under Tornator's Green Finance Framework updated in April 2023, have a nominal amount of EUR 50 million, a fixed annual coupon of 5...

Imatra, 10/07/2023 (informazione.it - comunicati stampa - agricoltura)

Tornator Oyj ("Tornator") has signed a new long-term debt arrangement with Manulife, a major global insurance and investment company as well as one of the leading forestland investors in the world. The new notes are issued under Tornator's Green Finance Framework updated in April 2023, have a nominal amount of EUR 50 million, a fixed annual coupon of 5.188 % and maturity in 2035. These new notes are secured by certain forest properties owned by Tornator which form a dynamic security pool that secures also Tornator's other secured indebtedness.

The net proceeds from the issue shall be allocated in accordance with Tornator's new Green Finance Framework, primarily to acquisitions of double certified (FSC and PEFC) forest assets.

says Antti Siirtola, Tornator's CFO

Ken Cha, Manulife's Head of European Corporate Finance, tells that

Danske Bank A/S acted as the Lead Manager for the issue. comments Jenni Tuomaala, Head of DCM Origination Finland.

CFO Antti Siirtola, tel. +358 40 773 0975

www.tornator.fi/en

License code: FSC-C123368