Cinis Fertilizer investigates the possibility to issue senior secured green bonds, publishes preliminary figures, selected financials and establishes a Green Finance Framework
Cinis Fertilizer AB (publ) (the "Company") hereby announces that it has mandated ABG Sundal Collier AB, Nordea Bank Abp and Pareto Securities AB as joint bookrunners to investigate the possibility of issuing new senior secured callable green bonds in an expected amount of SEK 550 million. Subject to, inter alia, market conditions, a bond issue may follow.
The Company also provides certain preliminary figures relating to the third quarter of 2024 and selected financials as of 31 October 2024.
For the third quarter of 2024, the Company expects:
- Net sales of SEK 15 million; and
- EBITDA of SEK -23 million
As of 31 October 2024:
- Total interest-bearing debt (excluding leases) amounted to approximately SEK 484 million
- Cash and cash equivalents (excluding unutilised credit facilities) amounted to approximately SEK 43 million
The information contained in these statements are based on a preliminary assessment of the Company’s financial results and may be subject to change. The financial report for the third quarter of 2024 is scheduled for publication on 28 November 2024 at 08:00 (CET).
Furthermore, the Company announces that it has established its first Green Finance Framework (the “Green Framework”) which enables the Company to issue, among other things, green bonds. The purpose of the Green Framework is to finance and/or refinance the construction of Cinis’ SOP production plants. S&P Global Ratings has conducted an independent review of the Green Framework, which has rated the Green Framework with a Dark Green shading.
The Green Framework has been developed in accordance with the Green Bond Principles from 2021 established by ICMA (International Capital Market Association) and the Green Loan Principles (GLP) from 2023, established by LMA (Loan Market Association). Full details on the Company’s Green Framework can be found here: www.cinis-fertilizer.com/investors/green-bond.
The proceeds from the potential bond issue 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.
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 7th, 2024, at 7:30 a.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.
