MoFo Represents TVO on €280 million Green Private Placement

Morrison Foerster has represented Teollisuuden Voima Oyj (TVO) on its successful private placement of €280 million Green Notes. The private placement is the first issuance under the Green Bond Framework established by TVO in the summer of 2023.

TVO is an energy utilities company, based in Finland. The Senior Unsecured Green Notes were privately placed with US and UK institutional investors, with funds obtained to be used for projects that comply with TVO’s Green Bond Framework, based on environmentally friendly electricity production at TVO’s three nuclear power plant units in Olkiluoto, as well as on the responsible arrangement of nuclear waste management.

The private placement closed on December 15, 2023.

The MoFo team in London was led by Capital Markets partner Scott Ashton and associate Amelia Cheng and included Capital Markets senior of counsel Brian Bates, Finance partner John Burge, Tax partner Trevor James, Tax associate Harry Anderson, and trainee solicitor Angela Utubor.