Odfjell SE: Contemplated sustainability-linked bond issue
Odfjell SE (the “Company”) has mandated DNB Markets, Nordea and SEB to arrange a series of fixed income investor calls commencing January 11, 2021.
Following the investor calls, a sustainability-linked NOK denominated four-year senior unsecured bond issue may follow, subject to market conditions. Proceeds from the potential bond issue will be used for general corporate purposes, including refinancing of existing bonds.
The potential bond issue will be linked to Odfjell’s fleet transition plan and ambition to reduce the carbon intensity of its controlled fleet by 50% by 2030 compared to 2008 level. The issue is supported by Odfjell’s Sustainability-Linked Finance Framework (the “Framework”). The Framework has received a Second Party Opinion (the “SPO”) from DNV GL. The Framework and SPO will be made available on the Company’s website, and the proposed bond is intended to be listed on the Euronext ESG Bonds list.