Fingrid Oyj signs a EUR 300 million sustainability linked Revolving Credit Facility

Fingrid has signed a EUR 300 million sustainability linked Revolving Credit Facility on 30 November 2021. The facility has a maturity of five years and in addition two one-year extension options. This facility replaces the existing EUR 300 million facility from 2015 and is for general corporate purposes.

Fingrid will benefit from a lower interest rate loan margin if the company delivers on three specific material sustainability targets:

KPI 1: Increase in connecting wind power to the grid (MW)
KPI 2: Reduction of GHG emissions from transmission losses (tCO2e)
KPI 3: Reduction in combined Lost Time Injury Frequency, assessed through own personnel and service providers (LTIF)

Fingrid aims to scale up climate change mitigation, given its central role as the main grid operator and platform provider for clean electricity system in Finland. Fingrid has a core objective to promote emission-free electricity generation. The company is an enabler in Finland’s transition to net zero. This transaction will ultimately support Finland’s national target to be carbon neutral by 2035.

This Sustainability Linked Revolving Credit Facility aligns with the guidelines set out by the Sustainability Linked Loan Principles from the Loan Market Association. BNP Paribas and Nordea acted as joint Coordinators joint Mandated Lead Arrangers, and joint Bookrunners. BNP Paribas also acted as sole Sustainability coordinator and Documentation agent. Danske Bank A/S, ING Belgium SA/NV, OP Corporate Bank PLC, Skandinaviska Enskilda Banken AB (Publ), and Swedbank AB (Publ) joined the transaction as Bookrunners and Mandated Lead Arrangers.

“Sustainability is a core corporate value for Fingrid and present in everything we do. We definitely want to be part of the sustainable financing market now and in the future. This Revolving Credit Facility strengthens our position in enabling a clean, market oriented electricity system, as we move towards a period of record high investments. I also want to take this opportunity to thank our banking partners for their continued support and commitment to our first sustainable credit facility" says Jan Montell, Senior Vice President and CFO.

For further information, please contact

Jan Montell, Chief Financial Officer, Fingrid Oyj, tel. +358 30 395 5213
Marjaana Kivioja, Communications Manager, Fingrid Oyj, tel. +358 30 395 5267

Email addresses are in the form firstname.lastname@fingrid.fi