Helsinki-based Elisa, a Finnish telecommunications and digital services company, announced that it has negotiated a new syndicated sustainability-linked revolving credit facility of €170M.
The five-year facility contains a two-year extension option and is designed for general business uses. The facility replaces a similar-sized facility contracted in 2017 and is set to mature in July 2024.
Elisa’s CFO Jari Kinnunen, says, “Elisa’s mission is a sustainable future through digitalisation. We are committed to conducting responsible and sustainable business at all levels, including our financing operations. and we established a Sustainability Finance Framework in 2022 to support our sustainability goals.”
“This latest credit facility is a continuation of the previous syndicated credit facility linked to sustainability targets, and will help us accelerate our sustainable growth.”
According to Elisa, its performance in regard to corporate sustainability goals will decide whether the margin rises or falls:
- CO2 emissions from bought energy are being reduced.
- Increasing the accessibility of high-speed mobile networks
- Promoting diversity of personnel
The facility’s lead arrangers and bookrunners include Danske Bank, Handelsbanken, Landesbank Baden-Württemberg, Nordea Bank, OP Corporate Bank, SEB, and UniCredit.
The facility’s coordinator was OP Corporate Bank, the sustainability coordinator was Handelsbanken, and the facility agent was Nordea Bank.
“A sustainable future with digitisation”
Established in 1882, Elisa claims to be a pioneer in telecommunications and digital services. Its clients include 2.8 million people, businesses, and government agencies, and has an extensive network of over 6.3 million memberships.
The firm’s main market areas are Finland and Estonia and also offers digital services to international markets.
Elisa’s stock is listed on Nasdaq Helsinki, and in 2020 revenue is expected to be €1.89B, with over 5,000 employees.
The firm’s brands include Elisa, Elisa Saunalahti, Elisa Videra, Elisa Santa Monica, Elisa Polystar, and Elisa IndusrtIQ. Additionally, it also provides digital services for overseas markets.
For instance, visual communication services, entertainment services, and cloud-based IT services are among the offerings in Elisa’s portfolio.