Juhana Hyytinen

Neste – EUR 150 million Green Term Loan

We advised Neste as it signed a EUR 150 million bilateral green term loan agreement with Danske Bank A/S, Finland Branch. The proceeds of the loan will be used to finance eligible assets and projects in accordance with Neste’s Green Finance Framework. The loan has a tenor of 24 months with one 12-months extension option of 12 months. Neste published a renewed Green Finance Framework in February 2024 to align future financing activities with market best practices and standards. In addition to renewable and circular solutions, Neste’s renewed framework includes renewable energy as an investment category. Longer term actions on Neste’s climate roadmap include scaling up new technologies and innovations, with focus on renewable hydrogen. Renewable hydrogen and other new technologies are estimated to have a reduction potential of 20% or more of the 2019 scope 1 & and 2 emission baseline by 2030.

4.11.2024

Banco Santander and BNP Paribas – EUR 875 million debt financing for SigmaRoc

We acted as the Finnish legal counsel for Banco Santander and BNP Paribas in relation to providing a debt financing package totalling 875 million euros for SigmaRoc plc. The financing comprises a senior term and revolving facility of 750 million euros and a senior bridge facility of 125 million euros. These funds will be used to partially finance the acquisition of CRH plc’s European limestone quarry businesses in Germany, Poland, Czechia, the United Kingdom and Ireland, with the total consideration for the acquisition amounting to 1 billion euros.

22.3.2024

Global Net Lease – Financing arrangement

We advised Global Net Lease, Inc. in the refinancing of its EUR 74,000,000 Senior Term Loan Facility Agreement. Global Net Lease is a real estate investment trust listed on the NYSE focused on acquiring a global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe, and Necessity Retail assets in strategic locations. The facility was used to finance properties owned by Global Net Lease. The portfolio in question is comprised of five properties, four in Vantaa and one in Mäntsälä. The Vantaa properties are all let to Finnair Oyj, the largest airline company in Finland. The Mäntsälä property is a logistics warehouse and office space let to Tokmanni Oyj, a major stock-listed discount retailer in Finland.

15.2.2024

Biovian – Debt refinancing initiative to support GeneCity expansion

We advised Biovian Oy, a Finnish company, in a debt refinancing initiative and securing a new funding package with Eurazeo, a French investment company, to support GeneCity facility expansion. The package will be used to refinance existing debt and to finance investment in GeneCity. The GeneCity facility will house cutting-edge equipment and advanced technologies to support the development, manufacturing, and testing of ATMP (Advanced Therapy Medicinal Products). It will also feature dedicated Class A to D cleanroom areas for bulk drug substances as well as final drug product manufacture. The new viral vector facility building has been started in the autumn of 2023 and the facility is expected to be ready in 2025. The new funding package is an important milestone in Biovian’s growth journey and will support Biovian in continuing its strong organic growth. The GeneCity expansion is a strategic move aimed at meeting the growing demand for high-quality biopharmaceutical manufacturing services and further solidifying Biovian’s position as a trusted partner in the biopharmaceutical industry.

17.1.2024

Copenhagen Infrastructure Partners – EUR 500 million debt financing package for Ilmatar

We acted as the Finnish legal counsel for the lenders in securing a milestone group level debt financing package of 500 million euros for Ilmatar. The transaction was led by Copenhagen Infrastructure Partners (CIP) through its Green Credit Fund 1 with participation from Kommunal Landspensjonskasse (KLP), P Capital Partners (PCP) and accounts managed by CIP. The package comprises a day one committed tranche of 325 million euros and an uncommitted increase option of 175 million euros. The financing will support Ilmatar’s construction of renewable energy production in Finland and Sweden, with approximately 1 GW of renewable energy in operation, under construction or in ready-to-build phases. The deal represents a milestone financing for Ilmatar, strengthening its position as a leading Nordic independent power producer.

22.11.2023

Swedbank – Real estate financing arrangement for Heimstaden Bostad AB (publ)

We advised Swedbank AB (publ) in a real estate financing arrangement for Heimstaden Bostad AB (publ)’s Finnish subsidiaries. Heimstaden is a leading European residential real estate investor and manager with an evergreen perspective and a mission to acquire, develop, and manage Friendly Homes.

22.8.2023

Nrep – Green financing arrangement for Noli Studios

We advised Nrep in a financing arrangement for Noli Studios co-living premises in the Herttoniemi residential area of Helsinki. Together with Noli Studios, Nrep strengthens the provision and quality of flexible living solutions. The financing arrangement complies with Nrep’s commitment to become carbon neutral by 2028. Electricity used in the premises is 100 per cent renewable and emission-free and the building will be certified LEED Gold.

7.8.2023

Samla Capital – Luxury hotel project The Hotel Maria

We advise Samla Capital in the construction and development of The Hotel Maria and the related financing arrangement. The Hotel Maria is a first-class luxury hotel located in southern Helsinki that will open its doors at the end of 2023. The Samla Hotels fund (SC Hotels I Ky), managed by Samla Capital, will provide the investment required for the hotel. The investment budget is around EUR 116 million. The Hotel Maria will open as a member of Preferred Hotels & Resorts’ prestigious Legend Collection. This will be the brand’s first Legend hotel in Finland. The Hotel Maria consists of four buildings situated in a historic venue, and it aims to offer its customers an exceptional and modern luxury hotel experience.

13.1.2023

Mutares – Sale of Nordec Group

Together with CMS Munich, we advised Mutares SE & Co. KGaA in the sale of Nordec Group Oyj and its subsidiaries to a buyer consortium led by Harjavalta Oy and Tirinom Oy. Nordec Group has been a major part of Donges Group, a portfolio company fully owned by the listed private equity investment company Mutares. Nordec Group is one of the leading suppliers of steel frame structures and facade solutions for construction projects in the Nordic countries, with a strong position also in the Central and Eastern European countries. Nordec Group has subsidiaries in Finland, Sweden, Norway, Poland, Lithuania and Czech Republic. The company generated revenues of approximately EUR 225.5 million in 2021. The closing of the transaction is subject to customary regulatory approvals.

23.9.2022

REDI Shopping Centre – Refinancing of REDI Shopping Centre and Parking Facilities

We advised REDI Shopping Centre and Parking Facilities as borrowers in a refinancing arrangement entered into with a banking syndicate. Opened in 2018, REDI Shopping Centre and Parking Facilities is one of the biggest shopping centres in Finland in terms of leasable floor area.

27.4.2022

Danske, OP Corporate Bank, Swedbank and Handelsbanken – Real Estate Financing Arrangement for LähiTapiola Yhteiskuntakiinteistöt Suomi Ky

We advised a financier consortium including Danske Bank A/S as coordinator, Danske Bank A/S, Finland Branch, Swedbank AB (publ), Svenska Handelsbanken AB (publ), Branch Operation in Finland, and OP Corporate Bank plc as lenders in a real estate financing arrangement for LähiTapiola Yhteiskuntakiinteistöt Suomi Ky, a real estate fund investing in health care and community properties in Finland. The facilities made available under the financing arrangement consist of EUR 172,050,000 committed term facilities and EUR 80,000,000 uncommitted accordion facilities. The purpose of the financing arrangement was to finance the costs related to the acquisition of hospital property located in Espoo, Southern Finland, as well as financing and refinancing other properties acquired or to be acquired by the fund.

6.4.2022

Versowood – Refinancing Arrangement

We advised Versowood Oy as the borrower in revolving credit facility and term loan financing arrangements entered into with OP Corporate Bank plc and Danske Bank A/S, Finland Branch for the purposes of refinancing existing debt of the borrower and general corporate purposes. Versowood Oy is a family-owned company that is Finland’s largest private producer of sawn timber and the most significant wood packaging manufacturer producing sustainable wooden building and packaging materials and energy products.

21.3.2022

SEB – Refinancing Arrangement for Evli Healthcare I Ky

We assisted SEB in a EUR 161,260,000 refinancing arrangement for Evli Healthcare I Ky. Evli Healthcare I Ky is a Finnish real estate fund investing in care properties in Finland. Skandinaviska Enskilda Banken AB (publ) acted as the agent, security agent, co-ordinating mandated lead arranger and hedge counterparty in this refinancing arrangement. The lead arrangers in the syndicate were Aktia Bank Abp, LocalTapiola Corporate Lending I LP and LocalTapiola General Mutual Insurance Company, and the lenders for the facility were Skandinaviska Enskilda Banken AB (publ), Aktia Bank Abp, LocalTapiola Corporate Lending I LP and LocalTapiola General Mutual Insurance Company. The arrangement was carried out for the purpose of refinancing the existing indebtedness related to the property companies owned by the fund.

17.12.2021

Swedbank – Financing Arrangement for Lumo Kodit Oy

We assisted Swedbank AB (publ) in a EUR 100 million financing arrangement for Lumo Kodit Oy, a subsidiary of Kojamo plc offering rental housing in Finland’s largest cities with a long track record of working to promote better and more sustainable urban housing. The financing will be used for the purposes of refinancing the existing indebtedness of Lumo Kodit Oy.

7.5.2021

SEB – Real Estate Financing Arrangement

We acted as counsel for SEB in a real estate financing arrangement relating to three office properties managed by Schroder (acting on behalf of Schroder Nordic Real Estate Fund).

29.4.2021

SEB – Financing Arrangement for Asuntoyhtymä Group

We advised SEB in a financing arrangement of certain real estate portfolios of Asuntoyhtymä Group Oy. The financed housing companies are located in Finnish growth centers.

29.4.2021

NREP – Real Estate Financing Arrangement

We advised NREP in a real estate financing arrangement in which it purchased a headquarters property located in the district of Tapiola, Espoo, from Metsäliitto Cooperative and the Farmers’ Social Insurance Institution Mela. The significant investment of about 90 million euros expands NREP’s office portfolio, and is to date NREP’s largest single standing acquisition in Finland.

25.1.2021

OP Corporate Bank – Financing Arrangement for OP Vuokrakoti

We assisted OP Corporate Bank plc as the lender in a financing arrangement for OP Vuokrakoti Ky for the refinancing and financing costs related to the acquisition and construction of a residential housing company situated in the city of Lahti. OP Vuokrakoti Ky’s portfolio will include several other residential housing companies, which will be financed under the same financing arrangement.

22.1.2021

OP Corporate Bank – Finance of Acquisition of Profit Software by Volpi Capital

We advised OP Corporate Bank plc and Nordea Bank Abp in the financing of the acquisition of Profit Software Oy by Volpi Capital. The target company is an independent software and consultancy services vendor focusing on banks and insurance companies. It also offers a wide range of expertise and services within business analytics and data management across multiple industries.

21.1.2021

SEB – Financing Arrangement for Asuntoyhtymä Group Oy

We advised SEB in a financing arrangement for the housing investment company Asuntoyhtymä Group Oy.

29.12.2020

Skandinaviska Enskilda Banken – Real estate financing arrangement for FIM Asuntotuotto Erikoissijoitusrahasto

We advised SEB in a real estate financing arrangement for FIM Asuntotuotto Erikoissijoitusrahasto. The financing will be used for the purposes set out in the investment strategy of the fund.

30.11.2020

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