Outokumpu has signed a secured EUR 400 million sustainability linked term loan with key lenders

Press release
June 28, 2019 at 1.00 pm EEST

Outokumpu has signed a secured EUR 400 million sustainability linked term loan with key lenders

Outokumpu has today signed a secured EUR 400 million term loan. The margin of the loan is linked to the total recordable incident frequency rate and carbon dioxide emission per ton of stainless steel produced, both in relation to set targets. The proceeds will be used to refinance short term debt and to other general corporate purposes. The loan matures in June 2023 and it shares the security package e.g. with the syndicated revolving credit facility and with the notes due 2024.

Says Pia Aaltonen-Forsell, CFO of Outokumpu: “The new EUR 400 million term loan provides great support to our efforts to strenghten the debt structure and liquidity. The targets of the loan promote our commitment to sustainable business. We are very pleased for the interest shown by our key lenders to the sustainability linked loan.”

Danske Bank A/S and Swedbank AB (publ) coordinated the loan and acted as lead arrangers. Other lead arrangers were OP Corporate Bank plc, Skandinavista Enskilda Banken AB (publ) and Nordea Bank Abp. Other lenders were BNP Paribas SA Bankfilial Sverige, Crédit Agricole Corporate and Investment Bank, Helsinki Branch and Ilmarinen Mutual Pension Insurance Company. Danske Bank acted as the documentation agent and is the facility agent.

For more information:

Investors: Tommi Järvenpää, VP – Investor Relations, tel. +358 40 576 0288, +358 9 421 3466

Media: Reeta Kaukiainen, EVP – Communications and IR, tel. +358 50 522 0924

Outokumpu Oyj

Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless steel by 2020, through our competitive edge of customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com