Avance advised OP Corporate Bank as coordinator, agent and mandated lead arranger and a syndicate of eight banks in Metsäliitto Cooperative’s new EUR 200 million sustainability-linked revolving credit facility. The arrangement is Metsäliitto’s first sustainability-linked facility, with a tenor of five years and two one-year extension options.
The pricing mechanism of the revolving credit facility is linked to two ambitious sustainability targets, aiming to achieve zero Scope 1 and Scope 2 fossil-based carbon dioxide emissions by 2030 and to increase the share of certified wood to 100% within the same timeframe.