St1 Nordic Corporation will list a bond on First North Bond Market Finland today. The issuer has issued senior unsecured notes with an aggregate nominal amount of EUR 100,000,000 with a 4.125% Fixed Rate due 4 June, 2019.
First North Bond Market Finland was launched by NASDAQ OMX Helsinki on January 27, 2014. First North Bond Market Finland is an alternative marketplace offering companies the same services as the Main market but with more flexible listing requirements. It is a new debt funding alternative for non-listed and listed small- and medium-sized companies interested in issuing a corporate bond, and it is also a cost-efficient funding alternative for larger companies.
St1 Nordic Corporation is a Finnish energy company focusing on retail and wholesale trade of traffic fuels and on renewable energy development in Finland, Sweden and Norway. In 2013, the turnover of St1 Nordic Corporation was approximately EUR 2.5 billion and the group employs approximately 230 people. St1 Nordic Corporation is a private limited liability company. St1 Group Ltd, the sister group to St1 Nordic Corporation, is focusing on oil refining in Sweden.
Kim Wiio, CEO of St1 Nordic Corporation, commented: “Our first bond was issued to diversify our financing structure. The timing was determined by our well-established financial performance and good market conditions. Our EUR 100 million bond has been well received amongst investors and almost two times oversubscribed. The new First North Bond Market Finland operated by NASDAQ OMX Helsinki is well suited for our purposes.”
Lauri Rosendahl, President of NASDAQ OMX Helsinki, said: “We are very pleased that St1 Nordic Corporation is already the second company in Finland to diversify its funding sources on the new First North Bond market to fuel its growth. We strongly believe that many companies in Finland will consider corporate bonds as an alternative to supplement their debt financing on the public market.”
St1 Nordic Corporation appointed Danske Bank Oyj and Nordea Bank Finland Plc as Lead Managers for the bond. St1 Nordic Corporation appointed also Danske Bank Oyj as Certified Adviser in the First North bond listing.