Sector News

Neste signs €500-million green term loan agreement

June 5, 2022
Energy & Chemical Value Chain

Neste (Helsinki, Finland) has signed a €500-million ($535 million) green term loan agreement. The proceeds of the loan will be used to finance eligible assets and projects in accordance with Neste’s green finance framework. The loan has a tenor of three years with two one-year extension options. Danske Bank A/S and OP Corporate Bank acted as coordinating mandated lead arrangers and bookrunners of the loan.

Neste established the green finance framework in 2021 to further integrate the company’s sustainability ambitions into its financing. Neste says that the framework is designed to support financing of investments into the development, operations, maintenance, and expansion of its “renewable and circular solutions to mitigate climate change globally by reducing greenhouse gas emissions.”

Neste in April this year completed an agreement process with the European Commission related to a recent decision by the EU Innovation Fund to grant €88 million to Neste for a proposed clean hydrogen project at the company’s Porvoo oil refinery in Finland.

By Kartik Kohli

Source: chemweek.com

comments closed

Related News

March 24, 2024

Thomas Gangl leaves Borealis

Energy & Chemical Value Chain

Appointed Borealis CEO in 2021, Thomas has led key initiatives including the sale of the nitrogen business, acquisitions of Rialti Spa and Integra Plastics AD, and Borouge’s IPO. He also made the final investment decision for the Borouge 4 plant, set to be the world’s largest polyolefin complex.

March 24, 2024

Chemours names Dignam permanent CEO

Energy & Chemical Value Chain

The Chemours Co. today named interim CEO Denise Dignam as the company’s permanent CEO and president, as well as a member of the board of directors, effective immediately. Dignam has been interim CEO since late February, when former CEO Mark Newman was placed on leave due to an internal investigation.

March 24, 2024

Neste merges three business lines into new Renewable Products unit

Energy & Chemical Value Chain

Neste Corp. (Espoo, Finland) has completed its organizational change process, announced on 1 November 2023. Neste informed that it will merge its three renewable business units into one Renewable Products business unit as well as restructure its functions to better support business-driven ways of working.

How can we help you?

We're easy to reach