NEW ISSUE: Tornator Oyj €300m WNG Long 6yr Green Snr Sec; MS+130/135bp
IGC European Market: Deal Flow - General
Issuer
Term
Maturity
Size
Ranking
Type
ISIN
IPT
Tornator Oyj
Long 6yr
23-Jan-33
€300m WNG
Snr Sec
Fixed
FI4000609631
MS+130/135
IPTs: 6yr: MS+130/135bp
Issuer:Tornator Oyj
LEI: 743700HAOL35VNKK1711
Issuer Senior Secured Rating: Baa3 (stable) by Moody's
Issue Rating (exp.): Baa3 by Moody's
Status: Senior Secured (pari passu with secured bank loans and bonds), Green, Reg S
Amount: €300 million WNG
Settlement: 23-Sep-26
Maturity: 23-Jan-33 (Long 6 years)
Coupon: FXD, Annual, Act/Act (ICMA), short first
Use of Proceeds: The proceeds will be used to refinance Tornator’s existing indebtedness, including to redeem the €350m 1.250% Notes due 14-Oct-26 (ISIN: FI4000442108). An amount equivalent to the net proceeds of the Notes will be used for financing and/or refinancing of Eligible Green Assets in accordance with the Issuer’s Green Finance Framework.
Optional Redemption: 3-month par call (100%), Make-Whole Call and Clean-up call at par (75%)
Covenants: Asset disposal restrictions, insurances, information undertakings, Change of control (investor put at 100%), Cross-default (cross-acceleration, non-payment), Loan to Security Asset Value <70% (maintenance), Enforcement of Transaction Security
Documentation: Standalone
Governing Law: Finnish Law
Listing: Nasdaq Helsinki
Denominations: €100,000 + €100,000
Clearing: Euroclear Nordics
ISIN: FI4000609631
Joint Bookrunners: Danske Bank, OP Corporate Bank (B&D) and SEB
Noteholders' Agent: Nordic Trustee
Target Market: Target market (MIFID II product governance) is eligible counterparties and professional clients (all distribution channels). No PRIIPs KID will be produced as not deemed within scope.