Cinis Fertilizer has successfully placed senior secured callable green bonds
Cinis Fertilizer AB (the "Company") has successfully placed senior secured callable green bonds in an amount of SEK 550 million (the "Bonds"). The Bonds will have a tenor of 3 years and carry a floating interest rate of STIBOR three months plus 8.0 per cent, per annum, to be paid quarterly in arrears.
The net proceeds from the issue of the Bonds will be used to (i) refinance existing debt and (ii) finance general corporate purposes of the Company and its subsidiaries from time to time, including investments in accordance with the Green Finance Framework.
"The successful placement of Cinis’ first green bonds confirms the confidence in our business plan among experienced and knowledgeable investors, both in the Nordics and globally. With these dark green bonds, more credit investors are given the opportunity to contribute to Cinis' operations and a more sustainable agriculture," says Jakob Liedberg, CEO of Cinis Fertilizer.
"With refinanced debt, a strong cash position and positive cash flows we can now start looking ahead. We expect to reach full production pace in Örnsköldsvik in the beginning of 2025," concludes Jakob Liedberg.
The issue date for the Bonds is expected to be November 26, 2024, and the Bonds will be admitted to trading on the regulated market of Nasdaq Stockholm Corporate Bond List within 60 days after the first issue date with the intention to list within 30 days.
ABG Sundal Collier AB, Nordea Bank Abp and Pareto Securities AB acted as joint bookrunners in the transaction. Roschier Advokatbyrå AB acted as legal advisor to the joint bookrunners.
For more information, please contact:
Charlotte Becker, IR and Communications Officer, Cinis Fertilizer
charlotte@cinis-fertilizer.com
+46 730 37 07 07
Jakob Liedberg, CEO, Cinis Fertilizer
jakob@cinis-fertilizer.com
+46 768 58 12 86
This information is such information that Cinis Fertilizer is obliged to make public pursuant to the EU’s Market Abuse Regulation (596/2014/EU). This information was submitted for publication, through the agency of the contact persons above, on November 19, 2024, at 3:30 p.m. CET.
About Cinis Fertilizer
Cinis Fertilizer is a Swedish green-tech company producing an environmentally friendly mineral fertilizer, potassium sulphate (SOP), by, among other things, recycling waste streams from the manufacture of batteries and battery materials, as well as from the pulp industry and other industries. The patent protected technology will use half as much energy as today’s production methods and the result is a fertilizer with low carbon footprint, a unique and circular contribution enabling sustainable agriculture. FNCA Sweden AB is Certified Adviser. For further information please visit: www.cinis-fertilizer.com.
