Credit programs

Financing

Neste’s financing activities are managed by Group Treasury. The Euro Medium Term Note (EMTN) Programme with A3 long term issuer rating assigned by Moody’s supports Neste’s entry to the debt capital market. The group’s liquidity is secured through term loan agreements, committed revolving credit facilities, overdraft agreements and commercial paper programme.

EMTN Programme

Euro Medium Term Note (EMTN) Programme

Neste’s Euro Medium Term Note (EMTN) programme supports flexible issuance of bonds. The base prospectus can be found here.

Bond issues under the EMTN programme.

Time

Amount, MEUR

Coupon rate

Issue price

Joint lead managers

7.5 year fixed rate green note

11/2023

600

3.875

98.995

Barclays, Citigroup Global Markets Limited, Credit Agricole CIB, OP Corporate Bank plc, SEB

6 year fixed rate green note

3/2023

500

3.875

99.606

BNP Paribas, Citigroup Global Markets Limited, Danske Bank A/S, ING Bank N.V. and Nordea Bank Abp

10 year fixed rate green note

3/2023

500

4.250

99.936

BNP Paribas, Citigroup Global Markets Limited, Danske Bank A/S, ING Bank N.V. and Nordea Bank Abp

Stand-alone Bond

Bond issue under the stand-alone prospectus.

Time

Amount, MEUR

Coupon rate

Issue price

Joint lead managers

7 year fixed rate green note

3/2021

500

0.750

98.987

Barclays Bank Ireland PLC, Citigroup Global Markets Limited and Nordea Bank Abp

The prospectuses can be found here.

Green Term Loans

Green Term Loan June 2022

Green term loan to finance Eligible Assets and Projects in accordance with Neste’s Green Finance Framework established in 2021

  • EUR 500 million

  • Maturing June 2027

  • Coordinating mandated lead arrangers and bookrunners Danske Bank A/S and OP Corporate Bank plc

Green Term Loan June 2024

Green term loan to finance Eligible Assets and Projects under Neste’s Green Finance Framework renewed in 2024

  • EUR 200 million

  • Maturing June 2030

  • Lender UniCredit Bank Austria AG

Green Term Loan July 2024

Green term loan to finance Eligible Assets and Projects under Neste’s Green Finance Framework renewed in 2024

  • EUR 150 million

  • Maturing July 2026

  • Lender Danske Bank A/S

Revolving Credit Facilities

Revolving Credit Facility 2019

Revolving Credit Facility with a margin linked to greenhouse gas emissions reduction target

  • EUR 1.2 billion, maturing December 2026

  • Co-ordinators: Barclays Bank Ireland PLC, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank and Danske Bank A/S

  • Bookrunners and Mandated Lead Arrangers Barclays Bank Ireland PLC, BNP Paribas, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, DBS Bank Ltd, J.P Morgan SE, ING, Nordea, OP Corporate Bank plc, SEB, Swedbank, and UniCredit

Bilateral Revolving Credit Facilities

  • EUR 250 million dated December 2022, maturity December 2025

  • EUR 175 million dated April 2023, maturity April 2027

  • EUR 125 million dated April 2023, maturity April 2027

  • All facilities have a 3-year tenor with two 1-year extension options

Overdraft Facilities

Bilateral overdraft agreements with cash pool banks

  • up to EUR 50 million by bank

  • totalling EUR 150 million

Commercial Paper Program

Finnish Commercial Paper Program

  • EUR 400 million unsecured short term notes with maturities less than one year

  • Dealers OP Corporate Bank, Nordea, Danske Bank, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ), Helsinki Branch.

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