Avance advises Elenia Group and its main shareholders, Goldman Sachs Infrastructure Partners and 3i, in the issuance of EUR 650 million in secured bonds.
Elenia Finance Oyj, a fully owned subsidiary of Elenia Oy, has issued EUR 500 million in principal amount of 2.875% Fixed Rate Bonds due December 2020 and EUR 150 million in principal amount of 4.102% Fixed Rate Bonds due December 2030. The bonds are issued under a multicurrency bond programme and are listed on the London Stock Exchange. The transaction is a structured whole business securitization, the first of its kind by a Finnish issuer.
Elenia Oy is the second largest electricity distribution network operator in Finland with operations in more than 100 cities and municipalities and approximately 65,100 km of distribution network. In 2012, total electricity distribution volume was 6,391 GWh. Elenia Heat, a member of Elenia Group is the second largest private seller of district heating in Finland.
The Avance team included
Ilkka Perheentupa, Sari Wallgren, Elisa Heinonen, Linda Magnusson, Rasmus Sundström and Tanja Koivistoinen.