Recent work | November 10, 2020

Roschier advised Tornator on the issuance of its EUR 350 million secured green bond

Finnish-based forest company Tornator Oyj recently announced the successful issue of its secured green bond for an aggregate amount of EUR 350 million. This was the first ever listed green corporate bond in the Finnish debt capital markets. Roschier acted as the sole legal counsel to the issuer.

With a maturity of six years and a coupon of 1.25%, the green bond was listed on the list of sustainable bonds of Nasdaq Helsinki in October.

The green bond is secured by certain forest properties, owned by Tornator, that form a dynamic security pool, which also secures Tornator’s other secured indebtedness. The bond was allocated to domestic and international institutional investors.

Tornator Oyj is specialized in sustainable forestry in Europe and owns forests in Finland, Estonia and Romania. The owners of the parent company are Finnish, mainly institutional investors. Tornator’s core business includes sustainable forestry, forestland purchasing and silvicultural services.

Roschier’s core advisory team comprised Helena Viita, Laura Huomo and Julius Torvelainen.