Cirio advises BEWI ASA in the issuance and listing of EUR 250 million sustainability-linked bonds
BEWI ASA (“BEWI”) is an international provider of packaging, components, and insulation solutions. BEWI’s commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
On 24 August 2021 BEWI announced the issuance of new senior unsecured floating rate sustainability-linked bonds in an amount of EUR 160,000,000 under a framework of EUR 250,000,000 (the “Framework”) due in September 2026 (the “Initial Bonds”). In addition to the Initial Bonds, BEWI announced a successful EUR 90,000,000 tap issue of the remaining bonds (the “Subsequent Bonds”and together with the Initial Bonds “the Bonds”) under the Framework on 8 November 2021. The two separate prospectuses that were prepared in connection with the issuance of the Initial Bonds and the Subsequent bonds have been approved by the Swedish Financial Supervisory Authority and the Bonds are listed on Nasdaq Stockholm.
“It’s been a smooth and effective process. Cirio has provided us with relevant and timely legal advice throughout the transaction, and I am very pleased with their services” says Petra Brantmark, General Counsel at BEWI.
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