Helen signs EUR 500 million revolving credit facility

The syndicated revolving credit facility will be used for the refinancing of Helen’s existing bilateral revolving credit facilities and as a backup for general corporate purposes and liquidity needs. The facility has five-year maturity with two one-year extension options.

“Helen’s new syndicated revolving credit facility will be in many ways at the core of all our strategic goals, which are green transition, flexibility and profitability. The facility enables us to advance our green investments as planned and ensures flexibility in liquidity and funding,” says Helen’s Group Treasurer Jukka Kalliomäki.

Helen’s investments are focused on carbon-neutral energy production and the flexibility of the energy system. Helen’s emissions reduction targets have been approved by the Science Based Targets initiative (SBTi). The targets are based on a scientific calculation method, which aims to ensure consistency with the Paris Agreement’s target of limiting global warming to below 1.5°C.

Helen is committed to reducing its Scope 1 and Scope 2 greenhouse gas emissions by 77% on the 2019 level, per MWh of electricity and heat produced and its Scope 1 and Scope 3 greenhouse gas emissions by 77% on the 2019 level, per MWh of electricity and heat sold by 2030.

The syndicated facility was coordinated by Danske Bank A/S, who also acts as facility agent. Mandated Lead Arrangers and bookrunners are Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ).