DLA Piper advises Teollisuuden Voima Oyj on issue of EUR 600 million five-year bond and related tender offer

We have advised Teollisuuden Voima Oyj (TVO) on the issue of a EUR 600 million five-year bond with an annual coupon of 2.625 percent. The bond will be issued under the Company’s EMTN programme and listed on the Luxembourg Stock Exchange.

The proceeds of the bond issue will be used for general corporate purposes including financing of the tender offer announced for its Eurobond maturing in January 2023. BNP Paribas, Credit Agricole Corporate and Investment Bank, Nordea Bank Abp, and Swedbank AB acted as Joint Bookrunners for the new bond issue. Nordea Bank Abp and Swedbank AB are acting as Joint Dealer Managers on the tender offer.

TVO is an energy company that produces electricity in the nuclear power plant in Olkiluoto producing approximately one sixth of Finland’s total electricity consumption.

The DLA Piper team was led by partner Kristiina Hirva.