Finnish nuclear power company Teollisuuden Voima Oyj (TVO) has priced a €600m ($650m) green bond, the net proceeds of which will be used to finance or refinance eligible green projects including nuclear, according to a company statement on 14 May.
TVO said in the statement that the bond will have an initial annual coupon, or interest rate, of 4.25% and that it will be listed on the Luxembourg Stock Exchange.
A green bond is a fixed-income financial instrument used to fund projects that have positive environmental or climate benefit.
TVO defined eligible green projects in a 2023 green bond framework. The projects will be entirely or partially funded with the net proceeds from green bonds, according to the framework.
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