1 Jun 2023
Finnish tire maker establishes framework to issue sustainability-linked securities
Nokia, Finland – Nokian Tyres plc is considering a plan to issue euro-denominated senior unsecured sustainability-linked notes in a 'nominal amount' of €150 million.
The bonds would be issued in accordance with Nokian’s ‘sustainability-linked bond framework’, which was established 30 May to enable the tire maker to offer such securities.
The Finnish group said that the offering would underline its approach of integrating sustainability in its business model and investments.
The notes are to be linked to its progress in reducing greenhouse gas emissions from: own operations (Scope 1 and 2); and from product use (Scope 3).
Net proceeds from the proposed notes issue would be applied towards general corporate purposes, according to Nokian's 30 May announcement.
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