White & Case advises Elenia on European Green Bond and simultaneous tender offer

Global law firm White & Case LLP has advised Elenia Verkko Oyj (Elenia), Finland's second-largest electricity distribution company, on the issuance of €500 million 3.375% Guaranteed European Green Bonds due 2033 under its €3 billion multicurrency programme and a simultaneous tender offer related to its €500 million 0.375% notes due 2027.

"This transaction reflects Elenia's leadership in sustainable financing and highlights White & Case's long-standing and trusted role in the Nordic market," said White & Case partner Mikko Hulkko, who co-led the Firm's deal team.

The programme and the bonds were approved by the Central Bank of Ireland and have been admitted to trading on the Main Market of Euronext Dublin. The transaction represents one of the first bonds issued under the EU Green Bond Standard by a Nordic company, supporting Elenia's strategy to finance sustainable energy infrastructure and the transition to a low-carbon economy. The proceeds of the issuance will be used to finance or refinance eligible green projects in accordance with the EU Green Bond Regulation.

"This deal further demonstrates our Firm's preeminent English law capability and our commitment to providing clients with cohesive, cross-border advice on sophisticated capital markets transactions," said White & Case partner Richard Pogrel, who co-led the Firm's team.

The White & Case team that advised on the transactions was led by partners Richard Pogrel (London) and Mikko Hulkko (Helsinki) and included local partners Jenni Nygard and Oona Lilja (both Helsinki), local partner Ruslana Hrischeva (Luxembourg) and associates Hashim Eltumi, Jack Adachi (both London), Anniina Nuutero (Helsinki) and Sophia Fotso (Luxembourg).

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