Tornator strengthens its investment capacity by issuing EUR 50 million of new senior secured green notes

Tornator Oyj

Stock Exchange Release, 2 November 2023 at 8.00 AM

Tornator strengthens its investment capacity by issuing EUR 50 million of new senior secured green notes

Tornator Oyj ("Tornator") has signed a new long-term debt arrangement with Finnish institutional investors. The new notes are issued under Tornator’s Green Finance Framework updated in April 2023, have a nominal amount of EUR 50 million, a fixed annual coupon of 4.972 % and maturity in 2031. These new notes are secured by certain forest properties owned by Tornator which form a dynamic security pool that secures also Tornator's other secured indebtedness.

The net proceeds from the issue shall be allocated in accordance with Tornator’s new Green Finance Framework, primarily to acquisitions of double certified (FSC^® and PEFC) forest assets.

“This new additional debt instrument supports Tornator’s growth strategy extremely well and increases the company’s investment capacity in lucrative forest asset acquisitions. It was very nice to notice Finnish investors’ high interest and commitment to financing Tornator and its investment needs. 8-year maturity is a very good addition to Tornator’s debt maturity profile and decreases the refinancing risk in the coming years”, comments Antti Siirtola, Tornator’s CFO.

OP Corporate Bank and Skandinaviska Enskilda Banken acted as Joint Lead Managers for the issue.

For further information, please contact:

CFO Antti Siirtola, tel. +358 40 773 0975

www.tornator.fi/en

License code: FSC-C123368

Tornator is a leading specialist in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2022, the group’s net sales were some €165 million, and the balance sheet value was about €3.2 billion. The group has around 190 employees. Tornator's own employees, and other companies and their employees working on its forestland, add up to around 1,500 person/years of employment. The owners of the parent company are Finnish, mainly institutional investors. Tornator's mission is to generate sustainable well-being from forests

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