Fri December 8 04:15 pm 2023 in category Company news
Nokian Tyres signs a EUR 200 million sustainability-linked Revolving Credit Facility
Nokian Tyres plc Press Release on December 8, 2023 at 4.15 p.m. EET
Nokian Tyres plc has today signed a syndicated sustainability-linked revolving credit facility of EUR 200 million with a group of five banks. The interest margin of the revolving credit facility will increase or decrease dependent on Nokian Tyres meeting sustainability performance targets related to Scope 1, 2 and 3 reductions. The new facility will replace a total of EUR 175 million of existing revolving credit facilities, and it will be used as a backup for general corporate purposes. The three-year facility has two one-year extension options.
“We are pleased to have successfully completed this financial backup transaction, and appreciate the trust we have received from the banks in Nokian Tyres’ long-term growth strategy. This arrangement also extends the maturity structure of our debt portfolio,” says Niko Haavisto, CFO of Nokian Tyres.
Mandated Lead Arrangers and Bookrunners for the facility were Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank Plc, Skandinaviska Enskilda Banken Ab (Publ) and Swedbank Ab (Publ).
Nordea Bank Abp acted as Coordinator, Sustainability Coordinatorand Facility Agent.
Niko Haavisto, CFO
tel: +358 10 401 7819
Investors: [email protected]
Nokian Tyres develops and manufactures premium tires for people who value safety, sustainability, and predictability. Our purpose is to empower the world to drive smarter. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2022, our segments net sales totaled EUR 1,350 million. At the end of 2022 we employed some 3,300 professionals. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com
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