Elisa has strong reliable cash flow and efficient balance sheet structure.
Elisa has centralised its debt issuance to the parent company which takes care of the funding for the subsidiaries. Centralised treasury manages the financing activities and debt portfolio to ensure optimum financing arrangements minimising financial expences and refinancing risk, and proving liquidity for all group companies.
Keeping Elisa´s current investment grade credit ratings is an important part of financing strategy. Elisa´s financial policy on leverage is measured by Net Debt/EBITDA ratio to be between 1.5. – 2.0X and Equity Ratio >35%.
Elisa established European Medium Term Note (EMTN) Programme in 2000. Programme is updated annually and it is the main source for medium and long term funding.
As a part of this commitment, we signed our first Sustainability Linked RCF in 2021, and established a Sustainability Finance Framework in 2022 to support the company's sustainability goals. Elisa can issue bonds and other financial instruments to finance or refinance sustainable investments and projects in accordance with the Framework.
In addition to Elisa's climate goals, the Sustainability Finance Framework includes areas of digital and social responsibility. The Sustainable Finance Use of Proceeds categories are:
Elisa Sustainability Finance Framework
Sustainalytics Second Party Opinion
Elisa details the allocation of Sustainability Financing net proceeds annually on this website.
Elisa has worked together with Handelsbanken Capital Markets to develop this Sustainability Finance Framework. Sustainalytics has provided a second party opinion on the framework. The Sustainability Finance Framework is based on the Green Bond Principles, the Social Bond Principles, the Sustainability Bond Guideline, all as published by the International Capital Market Association (ICMA), as well as on the Green Loan Principles and the Social Loan Principles, each as published by the Loan Market Association.
Latest published opinion (pdf)
|Moody's Investors Service||Baa2 (stable)||-||20 Dec 2022|
|S&P Global Ratings||BBB+ (stable)||A-2||14 April 2023|
Mr Juha Kervinen
| Elisa Investor Relations|