Sanoma Launches EUR 150 Million Social Bond for Education
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Sanoma Issues EUR 150 Million Social Bond to Support Education
Sanoma Corporation has recently issued senior unsecured social notes totaling EUR 150 million. This strategic move not only secures essential funding but also reinforces the company’s commitment to educational initiatives.
Overview of the Social Notes
The EUR 150 million social notes, known as the "Notes," are set to mature in three years, specifically on 13 September 2027. These notes carry a fixed annual interest rate of 4.000 percent, with an issue price of 99.872 percent. Importantly, the offering attracted interest from over 40 investors, demonstrating a strong confidence in Sanoma’s mission.
Impact on Education and Sustainability
Sanoma Learning is dedicated to enabling approximately 25 million students to reach their full potential through innovative educational products and services. "With the issuance of our first social bond, we are providing investors the chance to support equal access to education and contribute to the UN Sustainable Development Goals, particularly Goal 4: Quality Education," stated Alex Green, CFO of Sanoma, expressing enthusiasm about the demand for these notes.
Future Plans and Listing
Sanoma intends to apply for the Notes to be listed on the sustainable bonds list of Nasdaq Helsinki Ltd. The net proceeds from this bond issue will be utilized following the Social Bond Framework published by Sanoma. This framework emphasizes the company's dedication to sustainable education financing.
Role of Financial Institutions
Nordea Bank Abp and Swedbank AB (publ) served as joint lead managers for this bond issuance. Furthermore, Swedbank provided advisory services in establishing the Social Bond Framework, ensuring compliance and strategic alignment with sustainability objectives.
About Sanoma Corporation
Sanoma is recognized as an innovative and agile learning and media company, actively influencing millions of lives each day. With a robust sustainability strategy, Sanoma aims to maximize its positive societal impact while minimizing environmental footprints. As a committed advocate for the UN Sustainable Development Goals, the company signs onto the UN Global Compact to endorse responsible business practices.
Broad Reach Across Europe
Operating in twelve European countries, Sanoma employs over 5,000 professionals, where their net sales reached approximately 1.4 billion euros in 2023, boasting an operational EBIT margin excluding purchase price allocations of 12.6%. Their extensive portfolio includes both printed and digital learning resources, alongside comprehensive digital teaching platforms catering to various educational levels.
Future Vision
Looking ahead, Sanoma is determined to grow its presence in the educational sector, providing solutions that facilitate teachers in nurturing every child's potential. Their Finnish media segments continue to deliver independent journalism and engaging content, ensuring a sustainable media landscape for future generations.
Frequently Asked Questions
What is the purpose of Sanoma's social bond?
The social bond aims to support equal access to education and contribute to the UN Sustainable Development Goals, particularly Goal 4: Quality Education.
Who managed the issuance of these social notes?
Nordea Bank Abp and Swedbank AB acted as joint lead managers for the issuance of the social notes.
What are the details regarding the interest rate of the notes?
The notes carry a fixed annual interest rate of 4.000 percent, with an issue price of 99.872 percent.
In which markets will the social bond be listed?
Sanoma plans to apply for the Notes to be listed on the sustainable bonds list of Nasdaq Helsinki Ltd.
What is Sanoma's overarching commitment?
Sanoma is dedicated to innovative learning solutions and sustainable practices, pledging to maximize its positive societal impact while minimizing its environmental footprint.
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