Caruna Group €1.93 billion refinancing

8/2/2016
Refinancing

€ 1.93 billion

$ 2.1 billion

Announced

8/2/2016


Overview:

  • Caruna Networks, the parent company of the Caruna Group, refinanced €1.93 billion of loans.
  • A group of 12 individual banks provided senior loans of €825 million in addition to an investment loan limit of €600 million and a working capital loan limit of €60 million.
  • Transmission Finance, a company which issues bonds and loans to institutional investors, lent €1.105 billion as part of a €10 billion multicurrency bond programme.
  • The structure achieved a long-term corporate credit rating of BBB+ by S&P.

Wai Yee Tsang - Journalist

Jurisdictions:

Finland
Ireland
United Kingdom

Deal type:

Refinancing

Practice area:

Banking

Governing laws:

England and Wales
Finland
Finland

Industry sector:

Energy


Firms:

Party: BNP Paribas (Arranger, Dealer)

Party: Royal Bank of Scotland (RBS) (Dealer)

Party: Commonwealth Bank of Australia (Lender)

Party: Citigroup Global Markets Ltd (Dealer)

Party: Skandinaviska Enskilda Banken AB (Dealer, Lender)

Party: RBC Europe (Lender)

Party: ING (Lender)

Party: OP Financial Group (Lender)

Party: Scotiabank (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Party: Canadian Imperial Bank of Commerce (Lender)

Lawyer: Conrad Andersen


Party: BNP Paribas (Arranger, Dealer)

Party: Citigroup Global Markets Ltd (Dealer)

Party: Skandinaviska Enskilda Banken AB (Dealer)

Party: Royal Bank of Scotland (RBS) (Dealer)


Party: Caruna Networks Oy (Borrower)

Lawyer: Julian Davies


Party: Transmission Finance Designated Activity Company (Issuer)


Party: Caruna Networks Oy (Borrower)


Party: BNP Paribas (Arranger, Dealer)

Party: Royal Bank of Scotland (RBS) (Dealer)

Party: Citigroup Global Markets Ltd (Dealer)

Party: Skandinaviska Enskilda Banken AB (Dealer, Lender)

Party: RBC Europe (Lender)

Party: Canadian Imperial Bank of Commerce (Lender)

Party: Commonwealth Bank of Australia (Lender)

Party: ING (Lender)

Party: OP Financial Group (Lender)

Party: Scotiabank (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Lawyer: Timo Lehtimäki