Hydro increases stake in advanced battery materials firm Vianode
Sep 11, 2024 18:03 CESTNorwegian industrial silicone manufacturer Elkem ASA (FRA:1DP) announced that it successfully raised NOK 1 billion (USD 93.6m/EUR 86.4m) through the issuance of new senior unsecured green bonds.
The deal was carried out in two tranches worth NOK 650 million and NOK 350 million, respectively, both maturing in five years. The first one bears a coupon of 3 month NIBOR plus 1.55% per year, while the second has a fixed coupon of 5.75 % per annum.
The transaction, which was oversubscribed, was led by Danske Bank and DNB Markets. The settlement is scheduled for August 31, 2023.
The proceeds from the issuance will be used in line with Elkem’s newly established green bond framework. The Norwegian firm intends to finance or refinance silicon smelter waste heat recovery plants, biocarbon reductant production sites, energy efficiency measures, carbon capture for silicon smelters and research and development (R&D) related to biocarbon reductants and circular waste solutions.
(NOK 10 = USD 0.936/EUR 0.864)
Hydro increases stake in advanced battery materials firm Vianode
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