Commentary & Deal Flow

Huhtamäki (ticker: "HUHTAM", country: FI), a key global player in food on-the-go and food on-the-shelf packaging solutions, rated BBB- (stable outlook) by S&P, has mandated Citi, Danske Bank, Nordea, and Standard Chartered as Joint Bookrunners to arrange a series of fixed income investor calls on Tuesday 05-May-26 and Wednesday 06-May-26. Danske Bank is coordinating logistics.

A €300m expected, senior unsecured, Reg S Bond may follow, subject to market conditions. The transaction will be issued under Huhtamaki’s EMTN programme dated 21-Aug-25, as supplemented on 30-Apr-26. The Note is expected to be rated BBB- by S&P.

• Concurrent Tender Offer: The company has concurrently announced a Tender Offer for its outstanding €375mn 4.250% notes due Jun-27 (ISIN FI4000523550).
• Target Market: Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).
• PRIIPs/KID: No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or the United Kingdom.
• Advertisement: All relevant documents (Huhtamaki’s 2026 EMTN programme and Supplement) are available at: https://www.huhtamaki.com/en/investors/financial-information/debt-investors/ratings-and-frameworks/emtn-programme/