VR Group issues its first green bond
VR Group will apply for the listing of the bond on the official list of sustainable bonds of Nasdaq Helsinki Ltd. The bond represents VR Group’s first issuance under its newly established Green Finance Framework.
“We are very pleased with the success of VR Group’s first green bond. The bond offering was well oversubscribed which highlights both the strength of our credit profile and as well as the investors’ trust in our ability to promote sustainable transportation and logistics in the Nordics” says Erkka Repo, CFO at VR Group.
The proceeds from the issue will be used in accordance with VR Group’s Green Finance Framework to investments into the clean transportation, renewable energy projects and energy efficiency for buildings owned or operated by VR. The object is to mitigate climate change globally by reducing greenhouse gas emissions, generating of renewable energy as well as energy savings.
“The green bond is issued to support VR Group’s plan to invest around one billion euros in railway stock in Finland during 2022–2026. We will invest for example in new electric locomotives, electric trains and in the maintenance and life-cycle management of the existing fleet”, says CFO Erkka Repo.
Danske Bank A/S acted as the Global Coordinator, and Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) as joint lead managers for the transaction. Nordea Bank Abp acted as the Green Structuring Advisor.
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or such other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the bond in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Neither VR, Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc or Skandinaviska Enskilda Banken AB (publ), or their representatives, accept any legal responsibility for any violation by any person, whether or not the persons contemplating investing in or divesting VR's securities, including the bond, are aware of such restrictions or not.
This communication does not constitute an offer of securities for sale in the United States. The bond has not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
This communication does not constitute an offer of the bond to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the bond. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (iii) high net worth entities falling within Article 49(2) of the Order and (iv) other persons to whom it may lawfully be communicated (all such persons together being referred to as “relevant persons”). In addition, this communication is, in any event only directed at persons who are “qualified investors” pursuant to the Prospectus Regulation (2017/1129, as amended). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this release or any of its contents.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.