Series of multi-issuer bonds guaranteed by Garantia continues with EUR 40 million issuance

TAALERI PLC                                 PRESS RELEASE                            18 September 2019  

Series of multi-issuer bonds guaranteed by Garantia continues with EUR 40 million issuance

Three Finnish companies are issuing a EUR 40 million 5-year multi-issuer bond guaranteed by Garantia. The bond was priced on the markets today 18 September 2019 and will be issued 25 September 2019. The fixed coupon rate of the bond is 0.75 per cent and the issue price is 99.673 per cent.  

The issuers are Aspo Oyj, Sarlin Group Oy Ab and Veho Oy Ab. The allocated loan shares of the companies range between five and twenty million euros. This is Garantia Insurance Company Ltd’s fourth guaranteed multi-issuer bond for mid-market companies. The earlier ones were issued in 2013, 2014 and 2018.

Garantia’s strong credit rating and its ability to pool smaller funding needs enable a guaranteed multi-issuer bond. It offers cost-efficient access to the capital markets also for Finnish mid-market companies. For bond investors, it offers an opportunity to invest into the Finnish businesses in a new form and size class. Garantia has a Standard & Poor’s credit rating of A-.

"Our consultative overall service guarantees fluent bond process for our client companies. Due to favourable market conditions and Garantia’s credit rating also the bond pricing was competitive”, says Martti Purhonen, Head of Corporate Sales and Financing at Garantia.

Garantia guarantees the payment of the principal and interest coupons of the entire issue in accordance with the terms and conditions of the bond. The offering was sold to institutional and other professional investors.

Danske Bank A/S acted as the Lead Manager for the issue.

Taaleri
Communications

For more information, please contact:

CEO Titta Elomaa, Tel. +358 50 552 8666, titta.elomaa@garantia.fi

Head of Corporate Sales and Financing, Martti Purhonen, Tel. +358 45 616 1551, martti.purhonen@garantia.fi

Garantia in brief
Garantia is a private non-life insurance company specialising in guaranty insurance, established in 1993. Garantia is a wholly-owned subsidiary of Taaleri Plc and part of the Taaleri Group. Garantia’s product selection includes loan guaranties, commercial bonds, and residual value guaranties to corporates, and residential mortgage guaranties to consumers via partners. In addition, Garantia offers investment and rental guaranties. In 2018, Garantia’s gross premiums written were EUR 17,4 million and earnings before tax EUR 9,2 million. At the end of June 2019, the total insurance exposure was EUR 1.65 billion. The company is domiciled in Helsinki, Finland and its business practices are supervised by the Finnish Financial Supervisory Authority.

Taaleri in brief

Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's, Finland, main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. In addition, the Group makes investments from its own balance sheet. At the end of June 2019, Taaleri had assets under management totalling EUR 6.6 billion and 5,300 wealth management customers. Taaleri Plc has some 4,300 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.

More information about our company and services: 

www.taaleri.com/en
www.taalerivarainhoito.com/en
www.taalerienergia.com
www.taalerikapitaali.com/en
www.garantia.fi/en

www.fellowfinance.fi/en

Sophie Jolly, Head of communications and IR, tel. +358 40 828 7317, sophie.jolly@taaleri.com