16.1.2025

Metsäliitto Cooperative A EUR 200 million sustainability-linked revolving credit facility agreement

Related services

Banking & Finance

We advised Metsäliitto Cooperative in relation to a new EUR 200 million sustainability-linked revolving credit facility with a syndicate of eight banks. This new credit facility refinances the existing EUR 200 million facility signed in December 2018 and will be used for general corporate purposes. The facility has a tenor of five years and includes two one-year extension options.

The pricing mechanism of the revolving credit facility is linked to two of Metsä Group’s ambitious sustainability targets:

Target 1: Zero tonnes of fossil carbon dioxide emissions, Scope 1 and 2, by 2030.
Target 2: Share of certified wood in wood supply 100% by 2030.

‘Incorporating sustainability criteria into our financing further demonstrates the company’s strong commitment to actions that reduce our carbon footprint and mitigate climate change,’ says Vesa-Pekka Takala, EVP, CFO of Metsä Group.

Our team

Latest references

Delta Capacity – Project financing of two battery energy storage systems (BESS)

We advised Delta Capacity AG in a project financing of two battery energy storage systems (BESS). The financed projects are among the largest BESS developments in Finland to enter construction with 250 MW / 600 MWh combined capacity. The financing was provided by Société Générale with support from Finnvera. Construction of both projects, located in Lapinlahti and Teuva, has already begun and the commercial operations are targeted to commence in late 2027 with partial tolling agreements already in place for both assets. The project in Lapinlahti is executed in partnership with Covenergo, while the project in Teuva is executed in partnership with Strioga Family Foundation. Delta Capacity is a Swiss developer of utility-scale battery storage systems. The projects strengthen Delta Capacity’s growing Nordic portfolio and support the flexibility of Finland’s electricity system by adding energy storage capacity, enabling production optimization as well as participation in electricity markets and reserve services.

NoHo Partners – EUR 50 million secured notes and EUR 97 million senior secured facilities agreement

We advised NoHo Partners Plc on the issuance of EUR 50 million senior secured floating rate notes. The notes have a tenor of four years and mature on 10 September 2030. The notes bear interest at a rate of three-month EURIBOR plus a margin of 4.375 per cent. per annum. The notes were allocated to a mix of domestic and international investors. We also advised NoHo Partners on the negotiation of its new senior facilities agreement. The facilities agreement comprises a EUR 60,000,000 term loan facility, a EUR 10,000,000 capex facility and a EUR 27,000,000 revolving credit facility. “We are delighted by the interest investors have shown in the company’s Notes, which reflects confidence in our strategy. The successful issuance of the Notes, together with the new loan agreement, extends the maturity profile of our financing and enables the company to continue executing its growth strategy going forward. I would like to thank all investors for their participation, as well as our partner bank for the excellent execution of the Notes issuance”, says Jarno Suominen, CEO of NoHo Partners. OP Corporate Bank plc acted as the sole lead manager and bookrunner for the issue of the notes. NoHo Partners Plc is a Finnish group established in 1996, and it specialises in restaurant services being the creative innovator of the Northern European restaurant market. The company was listed in Nasdaq Helsinki in 2013 becoming the first Finnish listed restaurant company, and it has continued to grow strongly throughout its history. NoHo Partners’ vision is to be the leading restaurant operator in Northern Europe.

Aspo – Demerger and finance matters

We advised Aspo Plc, ESL Shipping Ltd and AtoBatC Shipping AB in relation to finance matters in connection with the demerger of Aspo, by which all the shares in ESL Shipping Ltd held by Aspo, together with the related assets and liabilities, will be transferred to a new independent company to be named ESL Shipping Group Plc. Aspo intends to apply for the shares of ESL Shipping Group to be admitted to trading on the regulated market of Nasdaq Helsinki. It is further intended that Aspo be renamed Telko Group Plc.

Ilmarinen – Financing of real estate portfolio

We advised Ilmarinen Mutual Pension Insurance in connection with the financing of its real estate portfolio. Following the entry into force of the Finnish pension reform on 1 July 2026, pension insurance companies now have greater flexibility to utilise debt financing within their real estate portfolios, and Ilmarinen is one of the first to seize this opportunity.

Search from the site.