Aventum advised Fortum on the EUR 2.35 billion bridge financing arrangement from the Finnish state-owned holding company Solidium to cover collateral needs in electricity derivatives market
Due to the ongoing energy crisis in Europe and rapidly increased collateral needs in the Nordic power commodity market, Fortum Corporation (“Fortum” or “Company”) on 6th of September agreed to secure up to EUR 2.35 billion in fixed-term bridge financing, provided by the Finnish state-owned holding company Solidium.
Fortum is one of the largest energy companies in northern Europe and a fundamental part of the Finnish national energy production system. The aim of the financing arrangement was to strengthen Fortum’s liquidity reserves in order to secure financing also in extreme stress scenarios for Nordic power prices. Liquidity facility matures in full within one year from the signing.
Aventum acted as adviser to Fortum in the financing transaction.
For further information regarding the transaction please contact:
Kari Heinistö
Partner
+358 40 555 5614
Heikki Palmroth
Partner
+358 40 555 4737
Olli Klemola
Managing Partner
+358 40 555 5614
Tommi Laisi
Director
+358 40 845 6075
