VR – An Unsecured EUR 300 Million Green Bond

We advised VR-Group Plc as it issued an unsecured EUR 300 million green bond. The 7-year bond represents VR Group’s first issuance under its newly established Green Finance Framework.

‘The green bond is issued to support VR Group’s plan to invest around one billion euros in railway stock in Finland during 2022–2026. We will invest for example in new electric locomotives, electric trains and in the maintenance and life-cycle management of the existing fleet’, says CFO Erkka Repo.

The proceeds from the issue will be used in accordance with VR Group’s Green Finance Framework to investments into the clean transportation, renewable energy projects and energy efficiency for buildings owned or operated by VR. The object is to mitigate climate change globally by reducing greenhouse gas emissions, generating of renewable energy as well as energy savings.