Leading European financial institutions support H2 Green Steel's €3.5 billion debt financing

"These strong commitments to our debt financing show how far we have come on our journey, in a very short time. We are impressed by the collaborative approach of these institutions and the leadership they are displaying in financing the transition. The support from the European Investment Bank, Swedish National Debt Office and some of the world's leading export credit agencies and banks, not only underlines our business case and debt carrying capacity, but also highlights the willingness to support initiatives that will help fulfil the target of the Paris agreement," says Henrik Henriksson, H2 Green Steel's CEO.

STOCKHOLM, 24/10/2022 (informazione.it - comunicati stampa - servizi)

"These strong commitments to our debt financing show how far we have come on our journey, in a very short time. We are impressed by the collaborative approach of these institutions and the leadership they are displaying in financing the transition. The support from the European Investment Bank, Swedish National Debt Office and some of the world's leading export credit agencies and banks, not only underlines our business case and debt carrying capacity, but also highlights the willingness to support initiatives that will help fulfil the target of the Paris agreement," says Henrik Henriksson , H2 Green Steel's CEO.

This milestone has been enabled by a thorough due diligence process that was initiated in Q4, 2021. It represents a strong statement of support of H2 Green Steel's ambition to reduce carbon emissions in hard-to-abate industries, as well as the technical and economic merits of the Boden green steel plant by some of the world's leading financial organizations. The commitment letters and approvals remain subject inter alia to completion of final due diligence and documentation, with a further round of syndication anticipated given the substantive interest in the financing from a wide range of other commercial banks and investors.

Societe Generale is acting as lead financial advisor on the senior and junior debt facilities. KfW IPEX-Bank is acting as joint financial advisor on the senior debt facility. BNP Paribas, ING and UniCredit are acting as Pathfinders for the financing as respectively market, documentation and technical banks.

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* covering 95 percent of €1.5 billion

** covering up to 80 percent of €1 billion

Karin Hallstan, Head of Public and Media Relations, phone: +46 76 842 81 04, email: press@h2greensteel.com

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