University Properties of Finland Ltd (SYK) has agreed on a refinancing package totalling EUR 485 million. The arrangement will replace a significant part of the previous financing, including the Green Bond issued in 2018. The refinancing is entirely green, which has been one of the main objectives of the package now signed. The arrangement is financed by Nordea and Handelsbanken.
“It has been great to see how our focused responsibility measures have supported us in implementing this refinancing arrangement. As I see it, this is one of the most significant financing arrangements in the real estate sector to take account of responsibility. Our ambitious efforts to implement the various aspects of ESG will continue. The package now negotiated will enable the long-term development of our real estate portfolio,” says Sanna Sianoja, CEO of SYK.
“Nordea is committed to carbon neutrality by 2050, and we want to build a responsible future together with our customers. The energy efficiency and lower carbon dioxide emissions of green buildings are key to mitigating climate change, and SYK’s commitment to sustainability targets is a significant step forward for the whole industry. We encourage all companies to make responsible investments to ensure future competitiveness and we are committed to helping our customers in this process,” comments Aleksi Lehtonen, Head of Business Banking at Nordea Finland.
“SYK is a pioneer in its sector, as the refinancing package consists entirely of green financing. We are delighted to continue as one of SYK’s financiers,” says Ilari Tyrkkö, Branch Manager of Handelsbanken’s Tampere branch.
SYK was advised by Borenius Attorneys Ltd and PricewaterhouseCoopers Oy. ”The refinancing arrangement requires the cooperation of expert organisations, and I’m really glad that we had the opportunity to work with the top teams of both organisations,” says Sanna Sianoja.
“Congratulations to SYK for this significant green funding. SYK is a pioneer in responsible real estate ownership in Finland, and we are privileged to have assisted in this project. I’d like to thank Sanna in particular for a great joint project. We would also like to thank Nordea and Handelsbanken for the good process and Borenius for their contribution as advisors,” says Antti Palkén, Financial Services Leader at PwC.
University Properties of Finland Ltd
Sanna Sianoja, CEO
tel. +358 50 351 2207