Valokuitunen secures strong lender financing for roll-out of fibre networks in Finland
CapMan Infra press release
25 May 2021 at 12.00 noon EEST
Valokuitunen secures strong lender financing for roll-out of fibre networks in Finland
Valokuitunen Oy, a joint venture between CapMan Infra and Telia, has secured 5-year loan facilities with Skandinaviska Enskilda Banken (SEB) and Nordic Investment Bank (NIB) for financing the roll-out of new fibre-to-the-home network connections in Finland.
The financing will continue to support Valokuitunen’s investments into new digital infrastructure and services, and expand the coverage of high-speed fixed line connections in residential neighbourhoods in Finnish growth centres and surrounding areas. Valokuitunen’s fibre network roll-out plan is estimated to enable high-speed internet access to more than 70,000 new customers by 2025.
Valokuitunen’s investment plan contributes to Finland’s national digital infrastructure strategy of providing a minimum of 100 Mbps internet connections to all households by 2025.
“Given the immense increase in the amount of data being transferred, the need for people and business to have access to fast and reliable network connections is clear. The establishment of new network infrastructure has crucial importance and a key role in guaranteeing that our member countries stay at the forefront of digitalisation“, says André Küüsvek, President and CEO of NIB.
“Valokuitunen is proud to partner with strong lenders in SEB and NIB, to continue its extensive roll-out plans in Finland. The last twelve months have illustrated the importance of high-speed and reliable connections, which allow people to work and study remotely. We look forward to continue improving the fibre infrastructure in Finland,” says Juha-Pekka Weckström, chairperson of the board.
For further information, please contact:
Sauli Antila, Investment Director at CapMan Infra, 040 658 9708, sauli.antila@capman.com
CapMan is a leading Nordic private assets fund manager, headquartered in Finland and listed on Nasdaq Helsinki. CapMan is invested in Valokuitunen through its CapMan Nordic Infrastructure I fund. CapMan Infra invests in sustainable energy, transportation and telecommunications infrastructure across the Nordics.
Telia Company AB is a Swedish multinational telecommunications company and mobile network operator present in Sweden, Finland, Norway, Denmark, Lithuania, Latvia and Estonia. Telia Company is headquartered in Sweden and is listed in Nasdaq Stockholm and Helsinki.
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.
SEB is a leading northern European financial services group offering financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide.