Tanja Törnkvist

Partner, Helsinki

Biography

“Tanja Törnqvist is an excellent and experienced banking lawyer, with a thorough knowledge of the market.”
The Legal 500 EMEA 2020

Overview

Recognized by professional guides as one of the leading banking lawyers in Finland, Tanja Törnkvist, supports clients with a wide range of financing transactions.

Major domestic and international companies and financial institutions benefit from her experience in acquisition finance transactions, general bank lending, project finance, structured bank/bond transactions, financial restructurings and real estate finance.

Noted for her cutting-edge approach to transactional matters, Tanja has been at the forefront of developing the Finnish high yield securities market, advising clients from pari secured bank/bond structures to super senior revolving credit facilities.

Committed to helping clients to achieve their business objectives, regardless of their complexity or innovative aspects, she has worked on a number of pioneering deals that were market 'firsts'. These include the first-ever full-scale consent solicitation process related to Finnish law-governed bonds, and the first-ever domestic secured bond issue and programme by a Finnish issuer.

Bars and Courts
Finnish Bar Association
Education
LLM
University of Helsinki
Faculty of Law
Languages
English
Finnish
Swedish

Experience

Representation of Nordea Bank Abp and Danske Bank A/S, as joint underwriters, coordinating bookrunners and mandated lead arrangers, on the EUR 996 million financing arrangements entered into in connection with the contemplated combination of Valmet Oyj and Neles Oyj whereby Neles will be merged into Valmet. The combination will create a leading company with a unique offering for process industries globally and with combined annual net sales of approximately EUR 4.3 billion.

Representation of Sanoma Corporation, an European learning and media company listed on Nasdaq Helsinki, on the financing of the €465 million acquisition of Santillana Spain, a leading Spanish provider of K-12 learning materials, from Promotora de Informaciones S.A. (Grupo Prisa). Sanoma will finance the acquisition fully with debt and has signed a committed bridge financing facility of €480 million with Nordea Bank Abp and OP Corporate Bank plc.

Representation of Nordea Bank Abp on the financing arrangements for the combination of Konecranes Oyj and Cargotec Oyj comprising €935 million term loan facilities for Konecranes Oyj and a €400 million term loan facility for Cargotec Oyj. The proposed combination will be implemented as a statutory absorption merger whereby Konecranes will be merged into Cargotec, creating a global leader in sustainable material flow with combined annual sales of approximately €7 billion.

Representation of Ahlstrom-Munksjö Oyj on the voluntary recommended public cash tender offer made by a Bain Capital lead consortium formed by (BC) Lux Holdco S.à r.l. (a vehicle owned and controlled by funds managed or advised by Bain Capital Private Equity (Europe), LLP, and/or its affiliates), Ahlstrom Invest B.V (an indirect subsidiary of Ahlström Capital Oy), Viknum AB and Belgrano Inversiones Oy, for all the issued and outstanding shares in Ahlstrom-Munksjö Oyj. The tender offer values Ahlstrom-Munksjö's total equity at approximately EUR 2.1 billion. Ahlstrom-Munksjö is a global leader in innovative and sustainable fiber-based materials and its shares are listed on Nasdaq Helsinki and Nasdaq Stockholm.

Representation of the underwriters and syndicate banks in relation to the new EUR 950 million financing arranged in connection with the combination of Tieto Corporation and EVRY ASA, both IT service companies, consisting of a bridge loan facility, a term loan facility and a revolving credit facility.

Representation of Metso Corporation in relation to a financing package in preparation for the combination of Metso Minerals and Outotec Oyj under the name Metso Outotec, with the remainder of Metso, Metso Flow Control, becoming an independent separately listed company under the name Neles. The financing for Metso (and, subsequently, Metso Outotec) comprised of a EUR 1.55 billion backup and term loan facilities with Nordea Bank Abp for the purposes of supporting the transaction and possible amendment and consent solicitation processes related to Metso's current financing arrangements, financing the potential cash redemption of Metso's shares up to EUR 500 million, as well as providing backup liquidity to Metso (and, subsequently, Metso Outotec) in the form of a revolving credit facility amounting to EUR 500 million. The financing for Metso (and, subsequently, Neles) comprised of a EUR 150 million term loan facility with Nordea Bank Abp, which may be used for the repayment and replacement of Metso's credit facilities and other liabilities that benefit the flow control business and are to remain with Neles post completion.

Representation of Outokumpu Oyj, a Finnish stainless steel company listed on Nasdaq Helsinki, in relation to its new secured EUR 400 million term loan facility arranged by Danske Bank A/S, Swedbank AB (publ), OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Nordea Bank Abp. The new term loan is sustainability linked and the margin of the loan is linked to the total recordable incident frequency rate and carbon dioxide emission per ton of stainless steel produced, both in relation to set targets. The loan shares the existing security package e.g. with Outokumpu’s existing syndicated revolving credit facility and with the secured notes due 2024.

Representation of Technopolis Plc, a modern real estate company providing shared office space and related services, and certain of its group companies in Finland, Norway, Sweden and Lithuania in connection with its approximately EUR 930 million euro, Norwegian krone and Swedish krona denominated senior secured facilities and mezzanine secured facilities. The facilities are to be used for, among others, the refinancing of Technopolis and its group companies’ existing indebtedness and the financing of certain existing and future organic growth projects.

Representation of Antilooppi Ky, a modern real estate company focusing on office properties in the Helsinki Metropolitan Area, in connection with its EUR 565 million facilities agreement with Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) and Danske Bank A/S and Handelsbanken Capital Markets, Svenska Handelsbanken AB (publ) as lenders and arrangers. The facilities consist of three separate tranches: a EUR 385 million committed term loan facility, a EUR 165 million uncommitted term loan facility and a EUR 15 million uncommitted ancillary facility, to be used for refinancing of Antilooppi's and its subsidiaries' existing secured facilities and financing additional investments.

Representation of ÅF AB in its EUR 611 million recommended public cash tender offer for all issued and outstanding shares in Pöyry PLC. Together with the shares acquired by ÅF through market purchases, the shares tendered during the offer period, including the subsequent offer period, represent approximately 99.3 percent of all the issued and outstanding shares and voting rights in Pöyry. ÅF is an engineering and design company within the fields of energy, industry and infrastructure, based in Europe and operating globally with net sales in 2018 of SEK 13,975 million. Pöyry is an international consulting and engineering company serving clients across power generation, transmission and distribution, forest industry, biorefining & chemicals, mining and metals, infrastructure and water and environment.

Representation of Danske Bank A/S, Nordea Bank AB (publ), OP Corporate Bank plc, DNB Bank ASA, Svenska Handelsbanken AB (publ) and Swedbank AB (publ) as arrangers and lead managers in Stockmann plc's combined bank/bond financing comprising EUR 650 million secured term and revolving credit facilities and EUR 250 million senior secured bond offering.

Representation of The Blackstone Group, a US-based private equity firm, in relation to the EUR 1.6 billion refinancing of Sponda Plc's group companies carried out in connection with Blackstone's tender offer for Sponda Plc shares. Sponda Plc is a Finland-based property investment company specializing in commercial properties in the largest cities in Finland. In the refinancing, the group's financing structure was changed from primarily unsecured financing to secured financing involving extensive security over the group’s real estate assets.

Awards and Recognition

Hall of Fame, The Legal 500 EMEA 2021

IFLR1000 Women Leaders 2021

Market Leader, IFLR1000 2021

Band 1 in Banking & Finance, Chambers Europe and Chambers Global 2021