HELSINKI – Finnish state financing company Finnvera Oyj has renewed its Euro Medium Term Note (EMTN) program, raising its ceiling from $15 billion to $17 billion, and has been accepted as an issuer on Nasdaq Helsinki. This development, effective from December 20, 2024, is in line with the State of Finland's guarantee on December 19, 2024, to extend its credit system guarantee to a new limit.
The EMTN program, with the express support of the Finnish government, enables Finnvera to issue bonds with a rating equal to the long-term debt of the State of Finland, currently rated at Moody's Aa1 and Fitch AA+. As of the end of September 2024, Finnvera reported approximately 12 billion euros in outstanding bonds.
Funds collected through this program are earmarked for financing export debt, which is very important in providing competitive financing options for clients of Finnish export companies. Providing buyer financing to foreign buyers is always necessary to complete an export transaction. Therefore, this financing program is an important tool for increasing the impact of Finnvera's financing activities and facilitating agreements for Finnish exporters.
The listing of new bonds issued under the EMTN program at Nasdaq Helsinki is a strategic initiative of Finnvera, as explained by Jarno Kosonen, Funding Manager of Finnvera. He emphasized the importance of Nasdaq Helsinki as a place to list bonds, due to the presence of other Finnish issuers in the international capital market listed there.
Finnvera plays an important role in supporting the start-up, growth, and export of Finnish businesses. It also provides export guarantees to reduce risks. As the official Export Credit Agency (ECA) of Finland, Finnvera shares financial risks with other suppliers, thereby strengthening the operational and competitive strength of Finnish businesses.
This announcement is based on a press release from Finnvera Oyj.
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