voestalpine Issues First Green Bond in European Steel Sector, Raising €500 Million for Sustainable Projects
(IN BRIEF) voestalpine, a leading international steel and technology group, has successfully issued its first green corporate bond, raising EUR 500 million. The five-year bond, which offers a coupon of 3.75%, was met with high investor demand and will be open for private investors from September 26 to October 3, 2024. The proceeds will be used to finance sustainable projects, including voestalpine’s greentec steel initiative aimed at reducing CO2 emissions by 30% by 2029 through electric arc technology. This issuance marks the first green bond from a European steel company, following the introduction of voestalpine’s Green Financing Framework, which has been rated “very good” by Moody’s.
(PRESS RELEASE) LINZ, 26-Sep-2024 — /EuropaWire/ — voestalpine, the international steel and technology group, has made a significant move by issuing its first green corporate bond worth EUR 500 million. This bond, set with a five-year term and a coupon rate of 3.75%, garnered substantial interest from investors. Additionally, private investors are invited to participate in the subscription period from September 26 to October 3, 2024. The funds raised through this green bond will be dedicated entirely to supporting or refinancing voestalpine’s sustainability-focused projects, including its groundbreaking greentec steel initiative.
The official trading of the bond (ISIN AT0000A3FA05) is expected to commence on the Vienna Stock Exchange starting October 3, 2024.
Herbert Eibensteiner, CEO of voestalpine AG, emphasized the company’s long-standing leadership in environmental practices and its commitment to reducing emissions through the greentec steel program. “By 2027, we will begin transitioning from traditional blast furnace methods to electric arc technology powered by green electricity, which will help cut our emissions by 30% by 2029. This marks greentec steel as Austria’s largest climate protection initiative, and with the issuance of this green bond, we are further establishing ourselves as pioneers in both the steel industry and the capital markets.”
voestalpine’s green bond is built on its Green Financing Framework, which the company launched a few weeks prior to the bond issuance. Gerald Mayer, CFO of voestalpine AG, noted that the framework meets the high standards set by the International Capital Market Association, widely recognized as best practice globally. This framework, rated “very good” by the ESG rating agency Moody’s, sets a high bar for future green financing efforts within the company.
With this issuance, voestalpine has not only taken a major step towards sustainable steel production but has also positioned itself as the first European steel company to introduce a green bond, solidifying its leadership in both the environmental and financial sectors.
The voestalpine Groupvoestalpine is a globally leading steel and technology group with a unique combination of materials and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. The voestalpine Group has been listed on the Vienna Stock Exchange since 1995. With its premium products and system solutions, voestalpine is a leading partner to the automotive and consumer goods industries, as well as to the aerospace and energy industries. The company is also the global market leader in railway systems, tool steel, and special sections. voestalpine is committed to the global climate goals and has a clear plan for transforming steel production with its greentec steel program. In the business year 2023/24, the Group generated revenue of EUR 16.7 billion, with an operating result (EBITDA) of EUR 1.7 billion; it has around 51,600 employees worldwide.
Advertisement – Important Notice:
This is an advertisement within the meaning of Art. 22 of the Prospectus Regulation and constitutes marketing information within the meaning of the Austrian Securities Supervision Act, the Austrian Capital Market Act 2019 and the Prospectus Regulation. It does not, however, constitute financial analysis, or investment advice or recommendations related to financial instruments, or an offer to sell, or invitation to buy securities of voestalpine AG. voestalpine AG securities are being publicly offered in Austria and Germany solely by means of and on the basis of the capital market prospectus approved by the Austrian Financial Market Authority (FMA) on 4 July 2024, published and notified to the German Federal Financial Supervisory Authority, and any possible supplements (together the “Offer Documents”). This prospectus, the supplements thereto as well as the final terms can be viewed and downloaded on the company’s website at https://www.voestalpine.com/group/en/investors/bonds/.
The approval of the prospectus by FMA should not be construed as an endorsement of the securities offered. Only the information in the Offer Documents is binding in connection with the offer. Potential investors should read the Prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the securities. Potential investors should read in particular the risk factors set forth in the Offer Documents and make this the basis for their decision and should not base their investment decision on this advertisment communication. An investment in securities of voestalpine AG carry high risks, in particular the risk of a total loss of the invested capital.
This advertisment is addressed exclusively to persons legally entitled to receive it. This information is not intended for distribution or publication in the United States of America (USA) and may not be provided or distributed to “U.S. persons” (as defined in Regulation S of the U.S. Securities Act of 1933, as amended) or to general circulation publications in the USA, or distributed or published in any other country where its distribution or publication would be unlawful.
Media Contact:
Peter Felsbach
Head of Group Communications & Spokesman
Tel: +43/50304/15-2090
mediarelations@voestalpine.com
SOURCE: voestalpine AG
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