Nordhaven advised Terra Patris on its EUR 39 million sustainability-linked loan

21 dec 2021

Nordhaven advised Terra Patris on refinancing its debt portfolio with a syndicated EUR 39 million sustainability-linked loan. The new 3-year loan facilities agreement with two one-year extension options includes the following sustainability targets:

- Share of renewable electricity out of Group’s total electricity consumption

- Group’s personnel’s average annual sick leave days

Terra Patris Oy is a Finnish family-owned company with subsidiaries in leisure marine industry, construction equipment industry, contract manufacturing and in forestry industry.

Turkka Hirvonen, CEO of Terra Patris group:

Sustainability is increasingly important for our industrial clients and other stakeholders. Linking loan margin to our sustainability targets gives us further incentives and discipline – we are happy to have also financiers as our sustainability stakeholders. Nordhaven’s advice from the project launch to final execution was highly value-adding and we are grateful for their thorough support.

Nordhaven's Debt and Capital Advisory

Nordhaven provides independent debt & capital advisory to private and public companies as well as to private equity clients. Our dedicated senior team has relevant hands-on experience and deep relations to various banks, institutional investors, debt funds and other alternative capital providers.

We were pleased to assist Terra Patris on their first sustainability-linked loan. During the last couple of years sustainability-linked loans have become the mainstream for publicly listed Finnish corporates. This development has already progressed and will further progress in private companies. We are happy to help also other private firms with sustainability-linked loans”, says Martti Purhonen, partner at Nordhaven.

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