Taaleri’s subsidiary, Taaleri Capital that provides investment banking services, has acted as financial adviser to Keilaniemen kiinteistökehitys Oy (real-estate development) in the issue of a EUR 100 million senior secured bond. Keilaniemen kiintestökehitys Oy is a subsidiary of Regenero, a joint venture between YIT Corporation and HGR Property Partners.
The bond matures in 3 years and carries a coupon of 4.00% per annum. The bond issue proceeds will be used for financing the acquisition and development of the former headquarter properties of Fortum Corporation to modern office space in Keilaniemi in Espoo, Finland. The bond issue was subscribed by institutional investors including certain investment solutions of Taaleri Wealth Management. The Lead manager of the issue was Danske Bank A/S.
“We are proud to be contributing to the financing of the modernization of perhaps the most iconic office building in Finland as well as the further development of the Keilaniemi area as Finland’s most prominent cluster of headquarters”, says Mr Heikki Nystedt, the Head of Product and Service Development at Taaleri Wealth Management.
“The issued bond was the first of its kind in Finland. A secured real estate development bond is already an established financial product in the other Nordic countries. Compared to traditional bank financing, it enables independent financing of real estate development projects at an earlier stage and on more flexible terms which improves capital turnover and the property developer’s return on equity. We believe that the warm welcome from investors received by the issue is a starting point to securitized project financing also in Finland”, says Vesa Heikkilä, managing director of Taaleri Capital.
Vesa Heikkilä, Managing Director, Taaleri Capital Ltd, 358 50 355 4541, email@example.com
Taaleri in brief
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Oy Group and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services and Ficolo Oy developing data centers.
At the end of December 2017, Taaleri had assets under management totaling 5.6 billion euro and 4,400 wealth management customers. Taaleri Plc has some 3,900 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.
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