9 Jun 2023
Security bonds linked to tire maker's progress in reducing greenhouse gas emissions
Nokia, Finland – Nokian Tyres plc has issued euro-denominated senior unsecured sustainability-linked notes with a nominal value of €100 million.
The bonds are the first issue under the company’s recently established ‘sustainability-linked bond framework’, which enables the tire maker to offer such securities.
The notes are linked to Nokian’s progress in reducing greenhouse gas emissions from: own operations (Scope 1 and 2); and from product use (Scope 3), said the Finnish tire maker 7 June.
The notes will bear a fixed annual interest at the rate of 5.125% and will mature on 14 June 2028.
The net proceeds from the notes issue will be used towards general corporate purposes, Nokian concluded.
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