Nordea and Svensk Exportkredit have entered into a SEK 300 million facility agreement with Cinis Fertilizer AB and its subsidiary Cinis Sweden AB.
The loan is covered by the Swedish Export Credit Agency’s (EKN) green credit guarantee, which will make it easier for companies to finance investments in green transition of the production or for working capital needs in green business operations.
The loan agreement is entered into to finance a production facility being built in Örnsköldsvik, where Cinis Fertilizer will manufacture sustainable mineral fertilizer from residual products from electric vehicle battery manufacturing and the pulp industry. The end product will be an important contribution to the green transition of agriculture and support the reuse of industrial waste. The expected start of production is early 2024.
Nordea and Svensk Exportkredit were advised by Mannheimer Swartling in connection with the entering into of the facility agreement and the incorporation of EKN’s green guarantee.