Tornator Oyj, Stock Exchange release 23 September 2026 at 18.00 EET
Listing prospectus for Tornator Oyj's EUR 300 million green notes available; listing application submitted
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO ANY PERSON LOCATED OR RESIDENT IN, OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE AND SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Tornator Oyj ("Tornator") announced on 16 September 2026 its decision to issue rated senior secured green notes in the aggregate principal amount of EUR 300 million (the "Notes"). The Notes were issued on 23 September 2026. The Notes will mature on 23 January 2033 and carry a fixed interest at the rate of 4.5 per cent. per annum. The Notes were issued in accordance with Tornator’s green finance framework (the "Framework") published in April 2026. Tornator's senior secured rating is Baa3, with a stable outlook, by Moody's Ratings. Moody’s Ratings has assigned a Baa3 credit rating to the Notes.
The Finnish Financial Supervisory Authority has today approved the listing prospectus of the Notes. The listing prospectus will be available in English on Tornator's website at Debt investors - Tornator
Tornator has today submitted an application for the Notes to be admitted to trading on the official list of sustainable bonds of Nasdaq Helsinki Ltd. Trading on the Notes is expected to commence on 25 September 2026 under the trading code "TORJ450033".
Tornator shall use the net proceeds from the issue of the Notes to refinance and finance Tornator's existing indebtedness, including redeeming the EUR 350m 1.250% notes due 14 October 2026 (ISIN: FI4000442108). An amount equivalent to the net proceeds of the Notes will be used for financing and refinancing eligible green assets in accordance with Tornator's Framework.
Danske Bank A/S, OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) acted as Joint Lead Managers for the issue of the Notes.
Further information:
Antti Siirtola, CFO, tel. +358 40 773 0975
www.tornator.fi/en
Tornator is a leading European company specialising in sustainable forestry. It owns forests in Finland, Estonia and Romania. In 2025, the Group’s revenue totalled approximately EUR 232 million and its balance sheet amounted to about EUR 4.0 billion. The Group directly employs around 190 people. Altogether, the company’s forests provide approximately 1,600 full time equivalent jobs through Tornator’s own personnel as well as entrepreneurs and their employees. The parent company’s owners are Finnish, mainly institutional investors. Tornator’s mission is to create sustainable well being from forests.
Important information
This release is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of Tornator. The distribution of this release and the related material concerning the issuance of the Notes may, in certain jurisdictions, be restricted by law. Persons into whose possession this release or any such offering material or documentation may come are required to inform themselves of and observe all such restrictions. This release and any such offering material or documentation may not be distributed or published in any country or jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of a state or jurisdiction. In particular, this release and any such offering material or documentation may not be distributed in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore or South Africa and this release and any related material concerning the issuance of the Notes may not be sent to any person in the before mentioned jurisdictions, except under circumstances that will result in compliance with any applicable laws and regulations.
The Notes will not be registered under the U.S. Securities Act 1933, as amended (the “Securities Act”) or with any securities regulatory authority of any state of the United States. The Notes may not be offered, sold, pledged or otherwise transferred directly or indirectly within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the Securities Act (“Regulation S”)), except to a person who is not a U.S. Person (as defined in Regulation S) in an offshore transaction pursuant to Regulation S.
The Notes are not intended to be offered, sold, distributed or otherwise made available to and should not be offered, sold, distributed or otherwise made available to any retail investor in the United Kingdom (the “UK”). For the purposes of this provision, a retail investor means a person who is either one (or both) of the following: (i) not a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (ii) not a qualified investor as defined in paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024. Consequently, no disclosure document required by the FCA Product Disclosure Sourcebook (DISC) for offering, selling or distributing the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering, selling or distributing the Notes or otherwise making them available to any retail investor in the UK may be unlawful under DISC and the Consumer Composite Investments (Designated Activities) Regulations 2024.
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