Private investors may also subscribe during the subscription period running from September 26 to October 3, 2024. The entire proceeds of the issue will be used to finance or refinance sustainable voestalpine projects, such as greentec steel. This green bond’s value date and start of trading on the Vienna Stock Exchange is scheduled for October 3, 2024.
“voestalpine has been an environmental benchmark in the industry for decades, and has a clear plan to transform its steel production with greentec steel. As early as 2027, we will partially switch from the traditional blast furnace route to electric arc technology using green electricity, thereby reducing our emissions by around 30% by 2029. This makes greentec steel the largest climate protection program in Austria. By issuing the first green bond in the European steel industry, we are now also taking on a pioneering role in the capital market,” said Herbert Eibensteiner, CEO of voestalpine AG.
Recently, voestalpine became the first European steel company to publish a Green Financing Framework, the basis for this green bond.
“Our Green Financing Framework fulfills the stringent requirements of the International Capital Market Association whose standards are considered best practice worldwide. Our framework for this first green bond and future green financing is the gold standard,” stated Gerald Mayer, CFO of voestalpine AG.
