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
Corteva (Indianapolis, Indiana) says it has signed a definitive agreement to acquire Stoller Group (Houston, Texas), a producer of biostimulants and plant nutrition products, for $1.2 billion. Stoller is one of the largest independent biologicals companies globally, with operations in more than 60 countries and more than $400 million in annual sales.
OMV has announced its new corporate structure today, designed to fully enable the delivery of Strategy 2030. The new organization will be built on five distinct areas. In addition to the CEO and CFO areas, three business segments will be established: Chemicals & Materials, Fuels & Feedstock, and Energy.
The European petchem sector is readying for some tough quarters. It’s a different picture in the US. So is this the best time ever to find a new role in the chemical industry? If you are in Europe, you would expect me to say probably not. But actually, it depends. So let me give you four answers to this question.