Taaleri's subsidiary Taaleri Capital has acted as financial advisor and Taaleri Wealth Management as lead manager in data center services provider Ficolo’s issue of EUR 20 million senior unsecured green bond.
”The issued bond is Finland's first green high yield bond and the first green bond issued by a non-financial, fully privately-owned company in Finland,” says Mr. Vesa Heikkilä managing director of Taaleri Capital.
The term of the green bond is four-years with a fixed coupon of 5.5 per cent. The issue date is today. The proceeds from the bond will be used mainly for the modernization and expansion of Ficolo's data center in Kolohonka, Vantaa, and for acquisitions. Ficolo acquired the datacenter from Fujitsu in the spring of 2019.
“We are pleased that also other than large companies are looking for green financing directly from the market. The business sector accounts for more than two thirds of the value added of GDP, so it is clear that the fight against climate change must be won first and foremost in the companies.”
Leading certifier of green bonds, the Norwegian climate research institute CICERO, has issued an independent opinion on the environmental impact of Ficolo's green bond. Ficolo was the first Finnish issuer to receive the highest CICERO rating ("Dark Green") for its bond, confirming that the intended use of the funds helps prevent climate change.
“Green financing is a great way to engage both the company and investors in projects with the highest impact. Ficolo as a new economy company is also an example of the fact that creating new growth and combating climate change are not mutually exclusive goals,” says Vesa Heikkilä.
“We are delighted that the Ficolo green bond has attracted so much popularity among both private and institutional investors. For Pontos, minimizing the environmental impact of properties is important, and Green Bond strengthens Ficolo's already exemplary position in realizing this value. The short bond sale period and significant oversubscription indicate that investors are confident in Ficolo's ability to complete the largest investment in its history successfully,” says Tom Järvi, Ficolo's board member and CFO of Pontos, Ficolo’s other main owner.
The data center industry is one of the most energy-intensive industries in the world. Ficolo has always used only renewable energy in its data centers, mainly wind power.
“We have developed our energy efficiency at the forefront of the world. Investing in the environment is a clear strategic choice for us at the same time as a responsible operating model creates a competitive advantage. The fact that our bonds received the highest possible rating from CICERO is also a strong message to our customers,” says Seppo Ihalainen, CEO of Ficolo.
Borenius Attorneys acted as legal counsel for the transaction.
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Ficolo in brief
Ficolo, founded in 2011, is a data center and cloud delivery company specialized in Cloud Delivery services. Ficolo has three data centers: The Air in Helsinki, The Rock in Pori and The Deck in Tampere. In addition, the company operates the Ficolo-IX Connectivity Hub in Helsinki. Ficolo also provides cloud and data center connectivity services, SDN based cloud networking and a centralized multi-cloud management solution.
Ficolo helps its customers transform their business model into a cloud-based model; the company offers all service components required to provide global cloud services, from colocation space to connectivity and state-of-the-art data security services. Ficolo is owned by Pontos (approx. 43%), Taaleri private equity funds (approx. 43%), and the company’s management and board (approx. 14%).
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.
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