Hemsö and NIB sign loan agreement for development projects in Sweden and Finland
- Non-regulatory information
Hemsö and the Nordic Investment Bank (NIB) have signed a ten-year loan agreement of SEK 700 million. The financing is for two municipal schools in Helsinki, one municipal school in Turku and the new police station in Borlänge.
The ten-year unsecured loan will finance the construction of Borlänge police station and redevelopment of Turku International School, Vallila elementary school in Helsinki and a school building for the Visual Arts School of Helsinki and Kallio Upper Secondary School. All buildings will have high energy performance.
“We are pleased that NIB is recognizing these environmentally sustainable projects. They also contribute to the continued development of the municipalities by creating new school places and regional development. The financing supports Hemsö’s continued investment in social infrastructure, which is greatly needed by the public sector in Sweden and Finland,” says Nils Styf, CEO, Hemsö.
“This cross-border loan project is a great example of Nordic cooperation. The projects this loan finances are of critical importance, as the accessibility of high-quality education improves the region’s competitiveness in the long run,” says André Küüsvek, NIB President and CEO.
This is Hemsö’s and NIB’s second loan agreement. In 2018, a loan agreement was signed to finance the construction of the Patienten 1 property in Solna, whose largest tenant is S:t Erik’s Eye Hospital.
About NIB
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For more information, please contact:
Nils Styf, CEO +46 8-501 170 01
Rutger Källén, CFO and Deputy CEO +46 8-501 170 35