Chicago, June 23 – Taaleri Oyj announced that its associated company Fintoil issued €70 million 7½% four-year senior secured green bonds on Tuesday, according to a press release.
Cicero rates the bonds medium green.
In total, Fintoil now has financing of around €130 million of equity and debt for its biorefinery investment in Hamina, Finland. The project is fully finance and on schedule for completion by July 2022.
The financing also included a €10 million super senior revolver.
The revolver will be used for working capital needs and initially intended for the financing of raw material purchases.
Nordea Bank Abp is the lead manager of both the bonds and the revolver.
The company also secured €40 million of preferred equity and €11 million of seed equity.
Taaleri is an investment and asset manager that focuses on renewable energy and other alternative investments and is based in Helsinki, Finland.
Fintoil was founded in 2017 to focus on the refining of crude tall oil.
Issuer: | Fintoil
|
Issue: | Senior secured green bonds
|
Amount: | €70 million
|
Tenor: | Four years
|
Bookrunner: | Nordea Bank Abp
|
Coupon: | 7½%
|
Settlement date: | June 22
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.