Finland > Capital markets
Index of tables
White & Case’s leading capital markets practice recently represented Outokumpu Oyj, a leading stainless steel producer, on its fully underwritten €1bn rights offering, which was the largest ever equity offering by a Finnish company. It also recently advised Nordea Bank Finland plc and Sampo Bank plc, as the lead managers, on SATO Corporation’s €100m debut bond issue, which was the first-ever domestic secured bond issue by a Finnish issuer. The department is led by Petri Haussila, who is ‘generally considered to be the best capital markets expert in Finland, and perhaps the country’s only world-renowned lawyer’. Mikko Hulkko and Petri Avikainen are also recommended.
Castrén & Snellman handles some of the most significant capital markets transactions in a sluggish market in 2012. It recently advised the underwriters and lead managers – including several of the world’s largest banks – on Outokumpu Oyj’s €1bn rights issue to finance its acquisition of Inoxum. In June 2012, the department advised Barclays, BNP Paribas, Crédit Agricole, Danske Bank, Deutsche Bank, Mitsubishi UFJ Securities, Nordea Bank, RBS and others on an update of TUO plc’s €3bn Euro medium term notes programme. Highly respected expert Merja Kivelä leads this impressive team, which also includes Janne Lauha and Juha Koponen.
Hannes Snellman Attorneys at Law Ltd utilises its ‘in-depth knowledge of financing alternatives’ to provide creative solutions in the capital markets. Members of the team ‘supplement each other well’ and recently advised Fiskars Group on divesting 2.08% of its shares in Wärtsilä Corporation to an investor for €126.8m, as well as on a subsequent agreement between the two parties to combine their shareholdings in Wärtsilä. Klaus Ilmonen is one of Finland’s leading capital markets experts. Riikka Rannikko is also recommended.
Krogerus ‘delivers very high-quality work’ that is ‘very thorough and shows a great deal of knowledge’. The team recently advised Aldata Solution Oyj on its €43m public tender offer, one of only two such offers in Finland in 2012. Department head Mårten Knuts has ‘extensive knowledge on capital markets law, which is a great asset’. Rami Salonen is also recommended, as is Tom Fagernäs, ‘an impressive up-and-coming senior associate with unparalleled business acumen’.
The ‘overall level of the service is very high’ at Roschier, which brings ‘a great practical approach in all cases, even the most complicated’. The team has continued to work on high-profile capital markets transactions including advising Citycon Oyj’s on its €150m senior, unsecured five-year domestic bond issue. Manne Airaksinen and practice head Paula Linna are ‘highly knowledgeable, with great capacity to combine that knowledge to business targets. They both provide peace of mind and solutions while simultaneously protecting the client and its management’. Dimitrios Himonus retired.
Bird & Bird advises several major Finnish clients on day-to-day capital markets work as well as disputes relating to the marketing of structured investments and asset management solutions connected to the collapse of Lehman Brothers. Harri Hynninen, Kimmo Reina and practice head Matti Ylä-Mononen is highly regarded.
Attorneys at law Borenius Ltd’s ‘excellent and really devoted’ capital markets team assists issuers with drafting and regulatory matters relating to some of the most complex equity capital markets transactions in Finland. ‘Very business-minded’ department head Ari-Pekka Saanio recently advised PKC Group plc on its €109m directed offering of 1,125,000 new shares. Jyrki Tähtinen is also recommended.
Dittmar & Indrenius typically handles larger, more complex transactions. It recently advised Bank of Åland on the establishment of its €1bn medium term notes and covered bonds programme, one of the few of its kind in Finland. Juha-Pekka Mutanen and Kari Lautjärvi are recognised leaders in Finnish financial law, and Robin Nordblad has a growing reputation in the market.
Waselius & Wist advises domestic and international issuers, managers, underwriters and other parties on capital markets and related regulatory work. The team has recently acted for clients including Deutsche Bank, J.P. Morgan and RBS, and assisted Schroeders Investment Management Ltd with the issuance and subsequent conversion of secured convertible loan notes and restructuring. Department head Tarja Wist is widely respected.
Since its foundation in 2011, Avance Attorneys has shown the potential to become a major player in capital markets law. It recently advised state-owned investment company Solidium, principal shareholder in Outokumpu, on Outokumpu's rights issue to fund its €2.7bn merger with Inoxum. Practice head Elisa Heinonen is ‘excellent’, and Ilkka Perheentupa has ‘in-depth knowledge and shows exceptional commitment when taking care of assignments’.
Merilampi recently represented Itella Corporation in its €150m bonds offering and listing on the main market of the Helsinki Stock Exchange. Ari Keinänen heads the team, which advised Suominen Corporation on its €87m share issue and listing of new shares. Merja Blankenstein is also recommended.
Peltonen LMR Attorneys Ltd advises financial institutions such as Société Générale and OP-Pohjola Group, as well as corporations including power company Teollisuuden Voima Oyj. Antti Niemi and Mikko Ojala are the key contacts.