June 21, 2017
The Finnish Fund for Industrial Cooperation Ltd (Finnfund) has successfully priced a 5-year EUR 100 million private placement.
The issue was oversubscribed, allocations were made to investors from Central Europe, Finland and Scandinavia. This transaction follows the EUR 50 million private placement made in 2013. It will further diversify the funding base and allow Finnfund to make more investments in developing countries.
“This oversubscribed transaction is a strong sign of confidence for the impact investing activity by Finnfund. We have approved more than EUR 115 million of investments into 14 projects year to date, and our pipeline is strong,” says CEO Jaakko Kangasniemi.
Finnfund is a Finnish development finance company that provides long-term risk capital for private projects in developing countries. Investment criteria include a financial project return that reflects the risk of the project, positive development impacts and sustainability. Investments and undisbursed investment decisions currently total over EUR 600 million, of which half are in Africa.
The Lead Manager for the transaction was Nordea Bank AB (publ).
Markus Pietikäinen, Chief Investment Officer (CIO), tel. +358 40 525 3024, markus.pietikainen(a)finnfund.fi
Jaakko Kangasniemi, Managing Director (CEO), tel. +358 40 577 7676, jaakko.kangasniemi(a)finnfund.fi
Finnfund (Finnish Fund for Industrial Cooperation Ltd) is a Finnish development finance institution, aiming to foster sustainable development by providing long-term risk capital for private projects in developing countries. Investment criteria include profitability, sustainability and positive development impacts. Since 1980 Finnfund has made nearly 370 investments in almost 70 countries. Currently, Finnfund has approximately 613 million euros invested in or committed to 167 projects in 34 countries.