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
The European Union said Monday that it has approved Agrofert Group’s acquisition of Borealis AG’s nitrogen business after concluding that the deal wouldn’t raise competition concerns. Agrofert is a Czech conglomerate, while Austrian chemical and fertilizer company Borealis is 75%-owned by OMV AG with the remaining 25% held by Abu Dhabi National Oil Co.
LyondellBasell Industries N.V. and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Univar Solutions Inc and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion.