Borenius advised Kesko Corporation on the issue of EUR 300 million green notes

We advised Kesko Corporation (“Kesko”) on the issue of euro-denominated senior unsecured green notes of EUR 300 million. The notes will carry a fixed annual interest of 3.500 per cent and mature in 2030. The net proceeds from the issue will be used to finance or refinance eligible green projects or assets in accordance with Kesko’s Green Finance Framework.

The green notes support Kesko’s goal of achieving net zero emissions across its entire value chain by 2050. They also help diversify Kesko’s financing sources while advancing its sustainability strategy.

Danske Bank A/S and OP Corporate Bank plc acted as joint lead managers for the issue of the notes.

Kesko is the biggest trading sector operator in Finland and one of the biggest in Northern Europe. The K Group employs approximately 45,000 professionals and has around 1,800 stores engaged in chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Poland and Denmark. Kesko’s shares are listed on Nasdaq Helsinki.