Sustainability Odfjell SE successfully places shipping’s first Sustainability-Linked Bond As the first in the international shipping industry, Odfjell SE has successfully issued a sustainability-linked bond. With a tight link to Odfjell's long-term climate targets, the bond marks another milestone in our ambitious work to reduce the environmental impact of shipping. As referenced in today’s stock market notice, DNB Markets, Nordea and SEB acted as Joint Lead Managers and Sustainability Structuring Advisors in the transaction. Upon closing, the unsecured bond issue was substantially oversubscribed and driven by a high-quality and ESG (Environmental, Social and Governance) focused orderbook. The issue size was set to NOK 850 million with a maturity date in January 2025. Proceeds from the bond issue will be used to refinance existing bonds and for general corporate purposes. The bond is intended to be listed on Oslo Børs and Euronext ESG Bonds. The bond issue is the first to be issued under a newly established Sustainability-Linked Finance framework, and is linked to Odfjell’s fleet transition plan and ambition to reduce the carbon intensity of its controlled fleet by 50% by 2030 compared to 2008 level. “With this sustainability-linked bond, we prove our strong commitment to reduce emissions and build a more sustainable shipping industry. Odfjell has for many years worked actively to drive change and reduce our carbon footprint, and we are now pleased to see that investors and banks support us through this sustainability-linked bond.” Kristian Mørch, CEO The sustainability-linked bond marks a first not only for Odfjell, but also for the international shipping industry, and for the Nordic region across all industries. “The shipping industry plays a vital role in the green transition. With Odfjell’s clear commitments, decarbonization strategy and ambitious CO2 emission reduction targets, they show the way as a leading company in the industry. By linking their CO2 emission reduction target with their bond financing terms, they further bolster their commitments and inspire other peers to follow. We are humble and grateful for being selected as facilitators of this hallmark transaction and supporting Odfjell on their sustainability pathway” Joint Lead Managers at DNB, Nordea and SEB Odfjell recently launched climate targets that go beyond IMO’s targets, and we are already well underway. Since 2008, we have run several improvement and efficiency programs, resulting in an almost 30% reduction in carbon intensity. The new climate targets are a part of our strategy on environmental, social and governance elements of the business. For further information, please contact: Investor Relations: Bjørn Kristian Røed, VP Corporate Analysis & Investor Relations Tel: +47 40 91 98 68 E-mail: bkr@odfjell.com Finance: Terje Iversen, CFO Tel: +47 93 24 03 59 ESG: Øistein Jensen, Chief Sustainability Officer Tel: +47 952 61 241 Media: Anngun Dybsland, Head of Communications Tel: +47 41 54 88 54 E-mail: media@odfjell.com First published 14.01.2021 SHARE SHARE SHARE Related stories Press release - Investor - Sustainability Odfjell SE appoints first Chief Sustainability Officer As a part of its ambitious sustainability strategy for the coming years, Odfjell SE introduces a new executive position and appoints Øistein Jensen as the company’s... Read more Sustainability Odfjell sets ambitious climate targets Odfjell has set ambitious targets to reduce our environmental footprints: We aim to reduce our carbon intensity by 50% by 2030 compared to 2008 levels and have a... Read more Sustainability - Tankers - About Odfjell's energy-efficiency program: Makeovers for a more sustainable fleet Over the last few years, Odfjell vessels have undergone nothing less than a complete makeover – with groundbreaking effects in energy efficiency and overall quality. Read more Tankers Odfjell Tankers Odfjell Ship Management Our ships Our fleet Terminals Houston, USA Charleston, USA Nangang, China Ulsan, Korea Associated terminals Noord Natie, Belgium Investors Reports and Presentations Share information Press releases General Meetings Bonds Webcast Career The Odfjell culture People & Careers Seafarers & Competence Development Vacancies About Our business Navigating by the Odfjell Compass Safety Corporate Policies Corporate Governance Sustainability Our organization Executive Management Board of Directors Our companies Our history Media Contact us Offices Odfjell Tankers Odfjell Terminals Ship Management Investor Relations Media Report a concern Privacy & data Cookies Employee login Insite Ship Management Portal