Finland’s power company Teollisuuden Voima Oyj (TVO) has issued a seven-year green bond worth $600m ($650m), the net proceeds of which will be used to finance or refinance eligible green projects including nuclear. The bond, with a coupon rate of 4.25% was issued under the company’s bond programme and is listed on the Luxembourg stock exchange.
The net proceeds of the Green Bond issued by TVO will finance or refinance, in whole or in part, Eligible Green Projects in accordance with TVO’s Green Bond Framework, published in June 2023. The framework is “based on TVO’s production of climate-friendly nuclear power at its three power plant units operating at the Olkiluoto site and responsible nuclear waste management”, TVO said. The main debt providers are BNP Paribas, Credit Agricole CIB, Nordea and Swedbank. The tender offer was organised by Nordea and Swedbank.
