20.8.2025

Funders EUR 665 million refinancing arrangement for Nevel

We acted as the Finnish legal counsel for the funders to Nevel Oy in a EUR 665 million refinancing arrangement through a mix of multicurrency bank loans and private placement notes.

Nevel is a utility infrastructure company offering advanced industrial and real estate infrastructure solutions that are fit-for-purpose and future-proof. The transaction supports Nevel’s growth strategy and its goal to help customers to achieve climate goals.

Latest references

We advised a leading global investment firm Brookfield, alongside a global sovereign wealth investor, on the Finnish law aspects of a EUR 1 billion holdco financing for DayOne Data Centers, a Singapore-headquartered developer and operator of hyperscale data centres. Structured as a seven-year secured holdco financing facility of €500 million, expandable to €1 billion – and secured by DayOne’s Finland platform – the financing will support the rollout of hyperscale developments in Lahti and Kouvola, providing nearly 300MW of planned capacity across Finland. The proceeds will also support DayOne’s global expansion across the EU and APAC, with flexibility to allocate to other key growth markets as required.
Case published 29.1.2026
We advised OP Corporate Bank and Skandinaviska Enskilda Banken (SEB) in the EUR 200 million financing of Sello Shopping Centre, one of the Nordic countries’ largest and most diverse shopping centres. The shopping centre is owned by Finnish pension insurance companies Keva, Elo and Ilmarinen. Sello is a pioneer in sustainable development, featuring an intelligent energy system and 2,300 solar panels. The shopping centre holds the highest LEED Platinum environmental certification, becoming the first shopping centre in Europe to achieve this distinction. Sello has demonstrated outstanding operational performance throughout 2025, achieving record visitor numbers and sales figures. 
Case published 29.1.2026
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Case published 5.1.2026
We advised Ålandsbanken Abp in the consent solicitation process regarding its SEK 150,000,000 Tier 2 notes due December 2041 and SEK 200,000,000 Tier 2 notes due March 2043. The terms and conditions of the aforementioned instruments were amended by removing the write-down mechanisms in the consent solicitation process. In addition, we advised Ålandsbanken Abp on the issue of SEK 350 million Additional Tier 1 notes. The notes bear floating interest at the rate of STIBOR three months plus a margin of 3.35 per cent per annum. The AT1 notes were issued on 20 November 2025, and admitted to trading on the official list of Nasdaq Helsinki Ltd. The instrument has no maturity date and qualifies as Additional Tier 1 capital in accordance with the EU Capital Requirements Regulation. The issue strengthens Ålandsbanken’s capital structure by taking advantage of favourable market conditions.
Case published 10.12.2025