Caruna continues to refinance its operations
Caruna is refinancing its loans with bonds for international institutional investors. By refinancing Caruna seeks to find favourable financing conditions and longer maturity profile for the debt required by Caruna’s business. All bonds are issued by Transmission Finance DAC.
“We are refinancing our bank loans in order to extend the maturity of our debt and utilise the low interest rate environment. Electricity transmission is a highly capital-intensive industry, and in order to ensure economical terms and conditions of our debt, we use an international financing structure in accordance with current market practice. This way we are able to achieve financing flexibly, in order to ensure the extensive investments needed for our electrical network,” CFO Jyrki Tammivuori from Caruna explains.
Standard & Poors has assigned a BBB+ long-term corporate credit rating to Caruna, along with a stable future outlook.