A landmark bioproduct mill investment in Finland for Metsä Fibre

Metsä Fibre made an investment decision to build a new bioproduct mill in Finland. Crédit Agricole CIB had a leading role in the EUR 1.2 billion financing package for Metsä Fibre.

Photo of the bioproduct mill in Kemi, Finland

Leading producer of bioproducts, biochemicals and bioenergy, Metsä Fibre, which belongs to Metsä Group, has recently made an investment decision to build a new bioproduct mill in Kemi, Finland. The value of the investment is EUR 1.6 billion.

It is the largest investment ever made by the Finnish forest industry company in Finland and the mill will be the biggest wood processing unit in the Northern hemisphere. The new mill is more than self-sufficient what comes to energy as it will produce 2.0 TWh of renewable electricity per year, which equals to roughly 2,5 percent of Finnish total electricity production. The employment impact in northern Finland is also significant confirming the sustainability of the whole project.

Crédit Agricole CIB had a leading role in EUR 1.2 billion financing package: the Bank acted as Mandated Lead Arranger and Bookrunner in all credit facilities including EUR 500M Finnvera Facility, EUR 200M EKN Facility, EUR 200M EIB Guarantee Facility, EUR 100M Green Term Loan and EUR 200M Sustainability-linked RCF.

Mikko Sammallahti"We are very proud to play a major role in financing this landmark investment in Finland. It not only strengthens our decades long relationship with Metsä Group but also confirms our expertise to finance environmentally friendly projects in a sustainable way."

Mikko Sammallahti, Managing Director, Senior Banker for Metsä Group
 

 

 

Mika Kursukangas"Metsä Fibre bioproduct mill with Valmet as the core equipment supplier is one of the most visible industrial investments in the Nordic Region, and the largest ever in Finland. Crédit Agricole CIB secured a role as one of the leading banks in the export credits and EIB guarantee, providing us substantial recognition as the leading global export finance bank, active in wood processing industry investments with strong sustainability angle."

Mika Kursukangas, Executive Director, International Trade & Transaction Banking