Sorainen, working with Dentons, has advised Deutsche Bank on a EUR 600 million syndicated loan agreement with Eesti Energia to refinance its 2016 bond issuance and support investments.
Eesti Energia is an international energy company whose home markets are the Baltic States, Finland, and Poland. The group is engaged in energy production and sales, as well as offering energy solutions to customers.
According to Sorainen, the agreement was signed on February 15, 2023. "The purpose of the term loan is to refinance the company’s bond and continue with the investments planned in customer solutions, the growth of micro-producers' connection opportunities in the electricity grid, and the development of the carbon-neutral chemical industry."
"The loan will refinance a EUR 500 million bond listed on the London Stock Exchange, expiring in September 2023," the firm announced. "The loan agreement was concluded for five years on the basis of a partial repayment schedule."
CEE Legal Matters covered the original Eesti Energia bond issuance back in November 2016. A 2017 CEELM interview with Ivar Kurvits – General Counsel at Eesti Energia at the time of the transaction – is available here.
Sorainen’s team included Partners Katlin Krisak and Kaido Kunnapas, Counsels Jane Eespold and Kaspar Endrikson, Senior Associates Mari Agarmaa, Robin Teever, and Verner Slim, and Associates Kamilla Alma Vilderson and Raul Kartsep.
Sorainen did not respond to our inquiry on the matter.