Sanoma Corporation, Press Release, 2 September 2024 at 10:25 EET
Sanoma launches a Social Bond Framework
Sanoma Corporation has established a Social Bond Framework (the "Framework") that is applicable for the issuance of social bonds under various formats, including public and private placements. The funds Sanoma raises through the issuance of social bonds will be used to finance or refinance expenditures aimed at improving access to essential education services. The Framework brings together Sanoma's Sustainability Strategy and its long-term financing strategy.
Education is a fundamental human right and key to achieving sustainable development. In addition to building knowledge, capacities and confidence, it opens up new opportunities for children and societies. As a leading European K12 learning company, Sanoma promotes equal access to education for all students, especially in the ongoing digital transformation.
"Our products and services enable and support teachers and schools to develop the talents of about 25 million students to reach their potential. The Framework is a great result of our systematic sustainability development work, and it further validates our strong impact towards the UN Sustainable Development Goals, especially Goal 4 Quality Education. Through the Framework, we are able to offer investors the ability to support equal access to education", says Alex Green, CFO of Sanoma.
The Framework has been developed in accordance with the International Capital Market Association's (ICMA) Social Bond Principles 2023. Through the Framework, Sanoma commits to greater transparency towards investors by following rigorous governance and reporting standards.
ISS-Corporate has provided a Second Party Opinion confirming that Sanoma's Framework is aligned with the ICMA Social Bond Principles 2023. ISS-Corporate considers that the Framework will contribute to the advancement of UN SDG 4 Quality Education and is consistent with Sanoma's Sustainability Strategy.
Swedbank has acted as the advisor for Sanoma in the establishment of the Framework.
The Framework and Second Party Opinion are available on Sanoma's website.
Additional information
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601
Sanoma
Sanoma is an innovative and agile learning and media company impacting the lives of millions every day. Our Sustainability Strategy is designed to maximise our positive 'brainprint' on society and to minimise our environmental footprint. We are committed to the UN Sustainable Development Goals and signatory to the UN Global Compact.
Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business.
Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.
Today, we operate in twelve European countries and employ more than 5,000 professionals. In 2023, our net sales amounted to approx. 1.4bn€ and our operational EBIT margin excl. PPA was 12.6%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at sanoma.com.
