- bond offers announced
Fortum intends to undertake two operations in the international debt capital markets as part of its refinancing plan. The plan aims at further optimization of the company’s debt structure and at decreasing its long-term cost of funds.
Firstly, an offer has been made to holders of approximately EUR 1.3 billion of bonds issued by Fortum Power & Heat AB (formerly Birka Energi) to exchange their bonds for new bonds issued pursuant to the Fortum Oyj Euro Medium Term Note (EMTN) Programme, which was established in July, 2003.
Secondly, the intention is to complete a debut bond issuance under the Fortum Oyj EMTN Programme. The proceeds raised in the offering are to be used for further optimization of Fortum´s balance sheet structure.
Together these transactions constitute a further step in the development of Fortum’s debt structure, by bringing transparency and simplicity to Fortum and to the providers of debt capital.
For further information:
Seppo Viitanen, Group Treasurer, tel. +358 10 452 4477