Finnish underground technology specialist Normet Group has announced that it will redeem a 30-million-euro hybrid bond originally issued on 19 May 2023. The redemption will take place on 19 June 2025, in accordance with the bond’s terms.
In financial terms, redemption means that the company is paying back the full amount of the loan to investors—along with interest accrued—thereby ending the bond before its maturity date. This is typically seen as a sign of financial strength.
“This notice of redemption is irrevocable,” says Timo Koponen, Chief Financial Officer at Normet Group.
Normet is a global leader in developing technology and services for underground mining, tunnelling, and civil engineering. Headquartered in Finland, the company employs over 1,800 people in more than 50 locations across 30 countries.
Normet has a strong presence in Southeast Asia, including operations in Singapore and Indonesia. Through its regional hubs, the company supports infrastructure and mining projects throughout the region, including in Malaysia, Hong Kong and Thailand.
In 2024, Normet reported net sales of EUR 482 million.
More information: www.normet.com
