Neste signs a green term loan agreement
Neste Corporation, Press Release, 3 June 2022 at 11:45 a.m. (EET)
Neste has signed today a EUR 500 million green term loan agreement. The proceeds of the loan will be used to finance Eligible Assets and Projects in accordance with Neste’s Green Finance Framework. The loan has a tenor of 3 years with two 1-year extension options.
Danske Bank A/S and OP Corporate Bank plc acted as coordinating mandated lead arrangers and bookrunners of the loan.
Neste established the Green Finance Framework in 2021 to further integrate the company’s sustainability ambitions into its financing. The Green Finance Framework is designed to support financing of investments into the development, operations, maintenance and expansion of our renewable and circular solutions with the objective to mitigate climate change globally by reducing greenhouse gas emissions.
Neste’s aim is to be a global leader in renewable and circular solutions. Our strategy focuses on growing in renewable and circular solutions, creating readiness for the future, and boosting competitiveness and transformation.
Neste Corporation
Susanna Sieppi
Vice President, Communications
Further information:
To follow the work within sustainable finance and to access the Green Finance Framework, the Second Opinion, and the Green Finance Framework Q&A, please visit: https://www.neste.com/investors/credit/green-finance
Neste’s media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET)
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more: neste.com
