Metsa Fibre Corporation, part of Metsa Group, has on 10 June 2015 signed the financing agreements for the Äänekoski bioproduct mill project and refinanced its existing EUR 270 million revolving credit facility. The financing for the bioproduct mill project is in total EUR 750 million and consists of several financing arrangements. The new revolving credit facility is EUR 300 million with a maturity date five years from the signing. In addition, the company has signed a EUR 150 million shareholder loan agreement with Itochu Corporation.
The debt financing for the bioproduct mill project consists of a EUR 400 million Finnvera guaranteed loan, EUR 200 million loan from European Investment Bank (EIB), EUR 80 million loan from commercial banks and EUR 70 million loan guaranteed by Swedish export credit agency EKN.
The financing has been coordinated by Nordea. Other lenders, in addition to above, participating in the financing are Danske Bank, DNB Bank, Pohjola Bank, SEB, Swedish Export Credit and Swedbank.
Metsä Group is a responsible forest industry group whose products’ main raw material is wood from northern, sustainably managed forests. Metsä Group focuses on tissue and cooking papers, fresh forest fibre paperboards, pulp, wood products, and wood supply and forest services. Its high-quality products combine renewable raw materials, customer-orientation, sustainable development and innovation. Metsä Group’s sales totalled EUR 5 billion in 2014, and it employs approximately 10,500 people. The Group operates in some 30 countries. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 122,000 Finnish forest owners.
About Metsä Fibre:
Metsä Fibre is a world-leading producer of softwood pulp and its main brand is Botnia. Our products – sustainably and cost-efficiently produced softwood and birch pulp – are specially developed for the production of high-quality tissue and writing papers, speciality products, and board. With four pulp mills in Finland, we employ a total of about 850 people. Our sales in 2014 were approximately EUR 1.3 billion. Metsä Fibre is part of Metsä Group.