Krogerus advised arranger Handelsbanken Capital Markets in SATO Corporation’s second bond offering under its EUR 500 million secured note programme.
In this tranche, SATO will, on 18 June, issue EUR 24 million secured notes with a ten-year maturity and a floating rate of 12-month Euribor plus a margin of 2.5%. The notes are secured by residential property.
SATO intends to list the notes for public trading on NASDAQ OMX Helsinki.
SATO is one of Finland’s leading corporate investors in housing. Its investment assets are valued at approximately EUR 2.1 billion. SATO will use the proceeds from the sale of the notes to invest mainly in rental property in the Helsinki metropolitan area and St. Petersburg.
Partner Päivi Toivari led the Krogerus team. She was assisted by senior associate Mirja Sikander and associate Anna Velitski.