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     167  0 Kommentare Taaleri’s associated company Fintoil secured EUR 80 million senior debt package and reached financial close of its biorefinery investment

    TAALERI PLC                PRESS RELEASE                23 JUNE 2021 AT 9:15 (EEST)

    Taaleri’s associated company Fintoil secured EUR 80 million senior debt package and reached financial close of its biorefinery investment

    Yesterday, on 22 June 2021, Fintoil successfully completed the issuance of EUR 70 million Senior Secured Green Bond, rated Medium Green by Cicero, combined with a committed EUR 10m Super Senior Revolving Credit Facility. Fintoil has now secured the financing comprising ca. EUR 130 million of equity and debt for its biorefinery investment in Hamina, Finland. The investment is now fully financed and on schedule for completion by July 2022.

    The Senior Secured Green Bond has a maturity of 4 years and carries a fixed coupon of 7.5% p.a. The proceeds from the SSGB will be used entirely on the biorefinery investment according to Fintoil’s Green Finance Framework. Fintoil also secured a multi-year binding commitment for a Super Senior Revolving Credit Facility for working capital needs and initially intended for the financing of raw material purchases. Nordea Bank Abp acted as the Sole Lead Manager of the issue and provided the Super Senior Revolving Credit Facility.

    With the completion of the senior debt financing package, Fintoil has reached the financial close of its CTO biorefinery project amounting to ca. EUR 130 million, comprising Senior Secured Green Bond (EUR 70 million) and Super Senior Revolving Credit Facility (EUR 10 million) as well as EUR 40 million of preferred equity and EUR 11 million of seed equity. Taaleri’s corporate finance arm Taaleri Kapitaali has acted as Fintoil’s financial adviser in all stages of financing since 2018.

    Fintoil's Hamina biorefinery, which will start up in July 2022, refines crude fatty acids from the by-product of softwood pulp, crude tall oil (CTO), to produce second-generation renewable diesel and biochemicals for chemical, food and pharmaceutical industries. The biorefinery has an annual refining capacity of 200,000 tonnes of CTO feedstock. Fintoil aims at a revenue of EUR 150 million and will employ 35 persons directly and an estimated 100 persons indirectly. Fintoil’s refinery utilizes the patented NEXPINUS technology provided by Neste Engineering Solutions, which enables more than 40% lower energy consumption in comparison to a traditional tall oil refinery. When completed, the Hamina biorefinery will be the world's third largest crude tall oil refinery.

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    Taaleri’s associated company Fintoil secured EUR 80 million senior debt package and reached financial close of its biorefinery investment TAALERI PLC                PRESS RELEASE                23 JUNE 2021 AT 9:15 (EEST) Taaleri’s associated company Fintoil secured EUR 80 million senior debt package and reached financial close of its biorefinery investment Yesterday, on 22 …

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