Finland’s Tornator raises €250m through bonds backed by forests

Finnish forest operator Tornator Group sold a €250m seven year bond secured by its 600,000 hectares of forest on Monday.

  • 10 Dec 2012

Lead managers Pohjola Markets, SEB and Handelsbanken Capital Markets went out with guidance of mid-swaps plus 200bp area on Monday morning for a minimum €150m bond.

Orders reached more than €250m by 1:00pm London time, allowing the deal size to be increased with the spread fixed in line with ...

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1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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5 Credit Suisse 44,872.46 115 6.43%