Credit programs
Neste's secures the group's financing with the following credit programs and loans.
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.
| Time | Amount, MEUR | Coupon rate | Issue price | Joint lead managers | |
|---|---|---|---|---|---|
| 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 |
Bond Issues (Stand-alone Prospectuses)
| 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 |
| 7 year fixed rate note* | 6/2017 | 400 | 1.500 | 99.947 | BNP Paribas, ING Bank N.V. and Nordea Bank AB (Publ) |
* Neste purchased EUR 198,800,000 on March 16th 2023 pursuant to the Tender Offer.
The prospectuses can be found here.
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
- Tenor 3 years with two 1-year extension options.
- Coordinating mandated lead arrangers and bookrunners: Danske Bank A/S and OP Corporate Bank plc
Revolving credit facility 2019
Revolving Credit Facility with a margin linked to greenhouse gas emissions reduction target
- EUR 1.2 billion
- Tenor 5 years with two 1-year extension options
- 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, HSBC, ING, Nordea, OP Corporate Bank plc, SEB, Swedbank, and UniCredit
Bilateral revolving credit facilities
- EUR 250 million, maturity December 2025
- EUR 175 million, maturity April 2026
- EUR 125 million, maturity April 2026
- All facilities have a 3-year tenor with two 1-year extension options
Domestic commercial paper program
- Total of 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), Svenska Handelsbanken AB (publ) and Swedbank AB (publ), Helsinki Branch.
Overdraft facilities for bank accounts with selected cash pool banks
Max. EUR 50 million per bank totalling EUR 150 million