Automation|DIGITALISATION|Drilling Equipment|Efficiency|Energy|Environment|Epiroc|Steel|Sustainable|Technology|Water|Equipment|Products|Solutions|Drilling|Operations
Automation|DIGITALISATION|Drilling Equipment|Efficiency|Energy|Environment|Epiroc|Steel|Sustainable|Technology|Water|Equipment|Products|Solutions|Drilling|Operations

Epiroc announces second green bond issuance

4th May 2023

By: Darren Parker

Creamer Media Contributing Editor Online


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Original-equipment manufacturer Epiroc has announced its second green bond issuance to fund the continued development of sustainable products and solutions.

The bond, issued on May 3, in Stockholm, Sweden, raised SKr1.5-billion with an order book of nearly SKr-3-billion, which the company believes demonstrates strong investor interest.

The five-year bond consists of one fixed and one floating interest rate tranche. The fixed tranche of SKr1-billion carries a coupon of 4.063%, while the floating tranche of SKr500-million has an interest rate of 3M Stockholm Interbank Offered Rate – or 3M STIBOR – plus 1.10%.

This is Epiroc's second green bond issuance following its debut in September last year, issued under the company's Euro medium-term note programme, with reference to its Green Bond Framework. The bonds will be listed on Euronext Dublin, with Danske Bank and Handelsbanken acting as joint lead managers for the transaction.

“The proceeds will enable us to finance sustainable investments and achieve our sustainability goals for 2030,” Epiroc CFO Håkan Folin said.

The green bond proceeds will be invested in three categories: products and production technologies, energy efficiency, and sustainable water and wastewater management.

These categories include battery-electric machines, diesel-to-battery conversion technology, automation and digitalisation solutions that increase efficiency and reduce emissions and environment-friendly raw materials such as fossil-free steel.

Energy efficiency solutions will optimise customers' energy use, and sustainable water and wastewater management initiatives will reduce wastewater in operations and develop efficient water-well drilling equipment.

The issuance of this green bond will enable Epiroc to achieve its sustainability goals.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online



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