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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