Banking and finance in Finland

Asianajotoimisto White & Case Oy

The banking and finance team at Asianajotoimisto White & Case Oy is highly recommended for cross-border transactions. Other areas of expertise for the group include investment grade financings, acquisition financing work, leveraged financing matters, project financings and real estate financing mandates. Practice head Tanja Törnkvist has an excellent track record in domestic and international lending work; senior associate Oona Lilja and associate Krista Rekola are also key names to notes.

Practice head(s):

Tanja Törnkvist

Other key lawyers:

Timo Airisto; Oona Lilja; Krista Rekola


‘Extremely responsive, experienced and solutions-oriented.’

‘Exceptional process management and attention to detail.’

‘Exceptional team. Very innovative. Very responsive.’

‘Krista Rekola – very good at explaining technical concepts clearly and concisely, innovative.’

‘Tanja Törnkvist is one of the best in her field.’

‘Wide legal knowledge in a compact firm’

‘Tanja Törnqvist has excellent and versatile legal and practical knowledge. Krista Rekola shines in managing complex legal documentation and transactions.’

Key clients

Metso Corporation (renamed Neles Oyj)

Nordea Bank Abp

Skandinaviska Enskilda Banken AB

Accent Equity Partners

Danske Bank A/S

Starwood Capital Group

Swedbank AB

Antilooppi Ky

OP Corporate Bank plc

Work highlights

  • Advised Metso Corporation on the €2.5bn financing package for the combination of Metso Minerals and Outotec.
  • Advised Nordea Bank Abp and Skandinaviska Enskilda Banken AB as mandated lead arrangers, underwriters and bookrunners, together with nine other syndicate banks, on the €950m financing for the combination of Tieto Corporation and EVRY ASA.
  • Advised Nordea Bank Abp and the other syndicate lenders in relation to the amendments to Finnair Oyj’s revolving credit facility provided for, among other matters, gearing covenant relief.


Borenius focuses on high-value transactions, with a strong offering for clients in the real estate and energy sectors. The 'dedicated and skilled' team has recently acted on a number of rescue financings and has a notable insolvency group. Practice head Niina Nuottimäki is particularly known for her experience in real estate financing and corporate lending mandates.

Practice head(s):

Niina Nuottimäki


‘Dedicated and skilled lawyers.’

‘Niina Nuottimäki- excellent lawyer and dedicated to supporting the client.’

Key clients

Nordea Bank Abp

OP Financial Group

Danske Bank

Skandinaviska Enskilda Banken AB

Svenska Handelsbanken AB

Morgan Stanley


CapMan Plc


Municipality Finance Plc


Work highlights

  • Advised Barclays Bank PLC and Nordea Bank Abp as lenders on a tender offer made by Mehiläinen Yhtiöt Oy for all shares in Pihlajalinna Plc.
  • Advised Danske Bank A/S, Finland Branch and Nordea Bank Abp in connection with Suominen Corporation’s €100m credit facility agreement linked to sustainability targets.
  • Advised Havator Group Oy on the issuance of €29m senior secured floating rate notes and the related financing arrangement involving an intercreditor agreement between the noteholders and the hire purchase creditors of Havator Group.

Castrén & Snellman

The versatile banking and finance team at Castrén & Snellman handles project finance and debt finance transactions, including real estate, acquisition and complex syndicated financing work. The group's roster of clients includes banks, real estate investors and financial institutions. Tero Tuomisto leads the practice and has extensive experience handling complex financing arrangements. Other key areas of work for the team include refinancing mandates and insolvency issues.

Practice head(s):

Tero Tuomisto

Other key lawyers:

Sakari Lukinmaa


‘They have quite a large team and their finance practice is one of the best in Finland. We have had a lot of co-operation with them and they have a good understanding of the special requirements of different industries.’

‘Sakari Lukinmaa- the ultimate responsible partner. Will make sure appropriate resources and commitment are deployed.’

‘Castren’s whole team understands our specific situations and is very helpful.’

‘Mariella Både-Landell deserves recognition for her outstanding expertise and great approach implementing legal advice into the client’s business.’

‘They do not shy away from looking after their clients interests when a more aggressive stance is required, but also possess good business thinking and have added value in strategic negotiations.’

‘Strong legal and market knowledge at the senior level. Capable of delivering across the financial transactions scene.’

‘Long standing great cooperation and a team that’s built to last.’

‘The whole team showed tremendous pressure tolerance on a very tight project schedule. The team was very committed to the project. Hands-on and solution-oriented.’

Key clients

Nordea Bank Abp

OP Corporate Bank plc

Skandinaviska Enskilda Banken AB

Danske Bank A/S, Finland Branch

JOOL Markets AS

Cramo Plc

Wolt Enterprises Oy

Ilmarinen Mutual Pension Insurance Company

Pihlajalinna Plc

Metsä Board Corporation

Finnlines Plc

Caverion Corporation


Northern Horizon Capital

S-Bank Ltd

Work highlights

  • Advised the Finnish Employment Fund on its increased funding needs due to the Covid-19 outbreak, consisting of revolving credit facility agreements totalling €800m and the issuance of two €600m unsecured bonds.
  • Assisted OP Corporate Bank plc with a €182m syndicated financing arrangement for Veho, a leading Finnish car import and retail company with operations in Finland, Sweden and the Baltics.
  • Advised a consortium consisting of Vantaa Energy, Infranode and Keva on its acquisition of Fortum’s district heating business in the Järvenpää-Tuusula region of Finland.

Hannes Snellman

The full-service team at Hannes Snellman handles matters including secured and unsecured bank lending mandates, acquisition financings, structured financing issues, securitisations and derivatives work. The department also handles credit work, which is an area of expertise for Henrik Mattson, who is also recommended for regulatory issues. The practice is distinguished by its strong track record in real estate and project finance work, particularly in the renewables sector, and its insolvency and restructuring practice. With an office in Stockholm, the team is also well-placed to advise on transactions taking place across the Nordics. Group head Markus Bremer has extensive experience in voluntary debt restructurings and enforcement procedures - areas where Antti Alanko is also noted.

Practice head(s):

Markus Bremer

Other key lawyers:

Henrik Mattson; Antti Alanko


‘They are pragmatic and business-oriented and make the transactional work very easy for the client.’

‘Markus Bremer has a commercial approach, he is pragmatic and understands the client’s needs.’

‘Very pragmatic and solution oriented team. Antti Alanko has been able to support us with solid legal advice that is combined with good understanding of the situation, deal dynamics and common sense. The team has always been able to provide timely advice and delivery of required documentation and comments. I feel that especially the combination of strong legal expertise & experience combined with common sense & pragmatic approach sets them apart from an average team.’

Key clients

Nordea Bank Abp

OP Corporate Bank plc

Nykredit Realkredit A/S

Aareal Bank AG

YIT Corporation

Rapala VMC Corporation

Skandinaviska Enskilda Banken

Danske Bank

Sampo plc

DekaBank Deutsche Girozentrale

CLS Bank International

Work highlights

  • Advised DekaBank Deutsche Girozentrale on the project financing of Project Piiparinmäki, the largest wind farm in Finland.
  • Acted as counsel to Nordea Bank Abp on its financing of the acquisition of the majority of shares in PHM Holding Oy (PHM) by Norvestor.
  • Acted as counsel to Remeo Oy on the refinancing of its existing financing and the financing of a new waste treatment facility by green loan.


Krogerus handles a variety of domestic and cross-border financing work for both borrowers and lenders, with expertise in complex acquisition and leveraged financing work, structured finance transactions, restructurings and asset finance mandates. Real estate finance and trade and export finance matters are further core areas of strength, and the team's renewable energy work stands out thanks to a range of notable project finance mandates. Practice head Päivi Toivari specialises in acquisition finance and corporate lending matters, and has additional experience in internet banking issues and payment transaction services. Up-and-coming partner Heidi Kivenjuuri is noted for her real estate and project finance practice.

Practice head(s):

Päivi Toivari

Other key lawyers:

Heidi Kivenjuuri

Key clients

Nordea Bank Abp

National Australia Bank

Ilmatar Energy Oy

Cibus Nordic Real Estate AB

HKScan Corporation

Skandinaviska Enskilda Banken AB

Sampo plc

Danske Bank A/S


Lehto Group plc

Work highlights

  • Advised Nordea Bank as co-ordinator and other lenders on the funding for the acquisition of a portfolio of nine properties in Ruoholahti by Antilooppi.
  • Acted as local counsel to Skandinaviska Enskilda Banken and National Australia Bank, as lenders, on Finnish law matters regarding the financing of a Nordic wind farm portfolio.
  • Advised a South Korean-Finnish investor consortium consisting of NH Investment and Securities (NHIS), Shinhan Investment Corp and Varma Mutual Pension Insurance Company, led by Seoul-based AIP Asset Management and Helsinki-based Avant Asset Management, on the financing of the acquisition of OP Cooperative’s headquarter office campus in Helsinki.


Roschier's finance and restructuring practice focuses on high-value transactions, acting for both buyers and sellers; the team assists clients across the Nordics including banks, large corporates and a variety of international private equity, infrastructure and real estate investors. The three practice heads divide the team's areas of expertise between them: Helena Viita focuses on securitisation and structured financing work, Johannes Ahti specialises in corporate and real estate financings, and Jonne Järvi handles energy, infrastructure and project financing transactions.

Practice head(s):

Helena Viita; Johannes Ahti; Jonne Järvi


‘Strong and efficient team.’

‘Johannes Ahti is a very helpful and efficient partner with very good understanding of financial markets.’

‘Leading finance team in Helsinki. Very professional and service-oriented team.’

‘Johannes Ahti brings a deep understanding of the bank’s perspective.’

‘Strong team of professionals who have good insight to the market.’

‘Jonne Järvi is a very hands-on, enthusiastic person with good problem-solving skills.’

Key clients


OP Corporate Bank


Danske Bank


Stora Enso

IK Investment Partners

Triton Partners


Trevian Asset Management

Work highlights

  • Advised an investor consortium led by ANTA Sports Products Limited on its €4.6bn public offer for Amer Sports.
  • Advised the lenders on the  €930m refinancing of the property portfolio of Technopolis Plc.
  • Assisted Outokumpu with the €120m financing of its DeepMine project.

Avance Attorneys Ltd

The banking and finance department at Avance Attorneys Ltd assists a range of banks, financial institutions and corporate clients. Recent matters include secured financings, loan issues and credit facility work. The team stands out for its expertise in regulated industries including the healthcare, infrastructure, financial services and construction sectors. Real estate finance expert Sari Wallgren jointly leads the practice with Selinda Näse, who has extensive experience advising both lenders and borrowers on financing transactions.

Practice head(s):

Sari Wallgren; Selinda Näse


‘Avance still has a boutique feeling but with the resources of a major law firm on the real estate side. Unbeatable combination. The team is very focused and willing to put in the hours to back the clients interests and get the deals done.’

The finance team is exceptional.’

‘Sari Wallgren shows dedication to understanding the big picture of our funding and strategy. Their holistic approach means that solutions work with changing corporate scenarios.’

‘Clear willingness to help on the issue at hand and tries to find the best solution. Sari Wallgren has clearly shown this kind of commitment.’

Key clients

Elenia Oy

Rettig Group Ltd

Fortaco Group Oy and CapMan Plc

Brunswick Real Estate

Alma Property Partners


Areim AB

CVC Capital Partners


AB Sagax

Summa Equity

Föreningen Konstsamfundet


Fingrid Oyj

Mimir Invest AB

Adelis Equity Partners

Sirius Capital Partners

DataCenter Group Oy

Ardian Infrastructure


Ahlström Capital Oy and A. Ahlström Kiinteistöt Oy

Work highlights

  • Advised Elenia group on a tender offer for €500m secured notes and consent solicitation for the reorganisation of the group structure and with a new issuance of €500m secured notes.
  • Advised on the secured financing arrangements for Areim’s acquisition of a residential portfolio of 900 rental apartments from Ilmarinen Mutual Pension Insurance Company.
  • Advised Mehiläinen Yhtiöt Oy on the financing arrangements for a public tender offer for all shares in Pihlajalinna Plc.

Dittmar & Indrenius

Dittmar & Indrenius advises a roster of leading banks, financial institutions, insurance companies, corporates, private equity houses and other investors; key clients are in the fintech, energy, mining and automotive sectors. Practice co-head Hanna-Mari Manninen focuses on leveraged acquisitions, corporate lending work and payment services transactions; she also has extensive fintech experience. Manninen heads up the team with Juha-Pekka Mutanen, who is recommended for project financings, bond finance mandates and pan-Nordic investments. Associate Kristian Karlsson is also noted.

Practice head(s):

Juha-Pekka Mutanen; Hanna-Mari Manninen

Other key lawyers:

Kristian Karlsson

Key clients

Infracapital’s Greenfield Fund

Loiste Group

MB Funds

Pandion Mine Finance, LP

Ikea Oy

Veho Oy Ab


Aberdeen Standard Investments (formerly SL Capital Partners), Auris Kaasunjakelu, Suomen Kaasuenergia

Kotkamills Group Oyj

Nordisk Film Games


Vaisala Oyj

KLAR Partners Ltd

Opus Capital and its owner Providence Strategic Growth Capital Partners L.L.C

Work highlights

  • Acted as Finnish counsel for Loiste Group, an energy services company, on its €475m refinancing.
  • Advised Pandion Mine Finance, LP on a complex transaction involving financing provided for the Laiva Gold Mine operated by Otso Gold Oy (previously Nordic Gold Oy).
  • Acted for Infracapital’s Greenfield Fund on the financing of its acquisition from OX2 of two ready-to-build wind farms.

HPP Attorneys

HPP Attorneys is highly recommended for project finance mandates, with experience in the renewable energy sector; Björn Nykvist has extensive expertise in financing mandates related to wind energy and mining projects. Nykvist jointly heads up the practice with Antti Rintakoski, who specialises in real estate finance and leveraged finance transactions. Other key areas of work for the team include advising domestic and Nordic financial institutions on restructuring and insolvency matters, and refinancing work.

Practice head(s):

Björn Nykvist; Antti Rintakoski


‘Great partner attention, solid advice and very prompt in getting back.’

‘Very capable and professional team, matching anyone in professionalism in complex financing agreements. Fast and effective.’

‘Antti Rintakoski is very experienced and full of energy. His ability to solve complex situations and find solutions is first class.’

‘Antti Rintakoski is an outstanding lawyer with a deep understanding of the financial sector.’

Key clients

European Investment Bank

Aktiivitilat AM Oy

Finest Bay Area Development Oy

Aquila Capital

Danske Finance Ltd

Municipality Finance

Collector Bank AB

Taaleri Plc

Skandinaviska Enskilda Banken AB

Neste Corporation

Work highlights

  • Acted as lead counsel to Aquila Capital Real Assets Investment  on its €47.5m cross-border refinancing arrangement with Skandinaviska Enskilda Banken, relating to two wind farms.
  • Advised Hana Financial Investments and Korea Investment & Securities as the lenders on a financing arrangement relating to the purchase of Taaleri Group’s Finnish wind farm investment portfolio by a Korean consortium.
  • Advised Collector Bank AB on a real estate financing arrangement in which Collector provided €34m loan facilities to Ovaro Kiinteistösijoitus Oy.

Waselius & Wist

Waselius & Wist advises clients including international banks and other lending entities, private equity houses and corporates. Key areas of work include structured financing issues and regulatory mandates, with distinguishing experience in aircraft finance work, project financings and the tax implications of financing transactions. Practice head Timo Lehtimäki focuses on cross-border mandates.

Practice head(s):

Timo Lehtimäki

Other key lawyers:

Maria Lehtimäki; Olli Kiuru


‘We have worked alongside W&W on a number of key mandates in Finland. Timo and his team are top of their game, extremely responsive and provide clear advice to the clients. W&W are aware of market practice on the key points and deliver real value for money for their clients.’

‘The team was very diligent and responsive in all respects.’

‘Dealing with Timo Lehtimäki was efficient and effective and him involved in the transaction only made things run smoother.’

Key clients

AXA Real Estate Investment Managers

Danske Bank

Barclays Capital

Santander Consumer Finance Oy

Goldman Sachs International

Credit Suisse


Bank of America Merrill Lynch

BNPP and Citibank

China Development Bank

ANZ Australia and New Zealand Banking Group Limited

BBAM Aircraft Management


Genesis Aircraft Services Limited

CABB Chemicals

Work highlights

  • Acted for the mandated lead arrangers on the Finnish law aspects of the financing of the acquisition of Elenia Lämpö Oy by a consortium formed by Aberdeen Standard Investments, DIF and Local Pensions Partnership Investments Ltd, LPPI.
  • Acted as transaction counsel for purchaser (TrueNoord) and seller (GOAL) in connection with the sale and purchase of three Embraer E190 aircraft and the related security release, new financing and lease novation with Finnair Aircraft Finance as lessee.
  • Advised Monitchem Holdco 2 S.A. and Monitchem Holdco 3 S.A (group companies of CABB Chemicals) as lenders on the refinancing of heating company Loimua Oy.

DLA Piper

DLA Piper counts structured export and trade finance work, export credit agency financings and project finance mandates among its core strengths, and also has a notable regulatory and compliance offering. Practice head Hans Sundblad focuses on advising banks and other financial institutions, and is particularly noted for his corporate lending and ship and project finance experience.

Practice head(s):

Hans Sundblad

Other key lawyers:

Kristiina Hirva; Mikko Luukkonen


‘Team with good depth covering all key areas relevant to a credit fund. Good knowledge, availability and experience.’

‘Hans Sundblad brings great knowledge, good relevant experience and availability. Commercial in negotiations / good big picture view.’

‘Mikko Luukkonen has proven to be easily accessible and able to provide diverse services within short time frames.’

Key clients

Raksystems Group Oy

NTR Renewable Energy Income Fund II

IPR VC Fund I Ky

Nordea Bank Abp


Landesbanken Hessen-Thüringen

Danske Bank A/S, Finland Branch

Credit Suisse Energy Infrastructure Partners (CSEIP)

Deutsche Bank AG

Work highlights

  • Advised Deutsche Bank on the Finnvera supported export credit facility for Verizon.
  • Advised Credit Suisse Energy Infrastructure Partners on the acquisition of an 80% stake in Finnish utility Fortum Oyj’s onshore wind portfolio.
  • Advised Raksystems Group Oy on the financing of the Raksystems group of companies by Nordea Bank.

Eversheds Asianajotoimisto Oy / Eversheds Attorneys Ltd (a member of Eversheds Sutherland)

Eversheds Asianajotoimisto Oy / Eversheds Attorneys Ltd (a member of Eversheds Sutherland) is particularly recommended for its fintech and alternative financing expertise, and is highly active in providing regulatory and compliance advice with niche experience in crowdfunding mandates. The group is also well-positioned to handle cross-border financing transactions, and is strong in real estate financing work. Merja Blankenstein, Tiina Ashorn, Harri Tolppanen and Vesa Turkki jointly lead the team.

Practice head(s):

Merja Blankenstein; Tiina Ashorn; Harri Tolppanen; Vesa Turkki


‘The strength is the wide knowledge of the area and ability to respond with tight schedules. It’s fundamental to understand customer’s business, and Eversheds has been able to make tailored services for us.’

‘They know the market extremely well and are able to assist with the nuances of the new regulations.’

Key clients

Glennmont Clean Energy Fund Europe III SCSp

Digitalist Group Oyj

Santander Consumer Finance Oy

Tremoko Oy

Collector Bank AB

Work highlights

  • Advised Glennmont Clean Energy Fund Europe III SCSp on arranging the external financing by DekaBank Deutsche Girozentrale for the acquisition of the Piiparinmäki ready-to-build windfarm project.
  • Advised Digitalist Group Plc on the drafting and the registration of a registration document pursuant to the Finnish Securities Market Act.
  • Acted as legal adviser to Santander Consumer Finance Oy.

Merilampi Attorneys Ltd

Key strengths at Merilampi Attorneys Ltd include real estate finance work, regulatory advice and fintech and alternative financing mandates. The practice also has an active insolvency team. Group head Tommi Elo has significant experience in licensing matters and other financial markets regulatory issues.

Practice head(s):

Tommi Elo

Other key lawyers:

Ari Keinänen

Key clients


Nordea Bank

Aberdeen Property Funds

Schroder Property Funds

Suominen Corporation

Posti Corporation

Kesko Corporation

Work highlights

  • Advised a consortium formed by YIT and Meridiam on the financing of a public-private-partnership for the construction of up to six school properties in Espoo, Finland.
  • Advised Kesko on a term loan facility of €300m and accordion facility of €300m by OP Corporate Bank as coordinating mandated lead arranger and bookrunner, with Nordea and SEB as other creditors.
  • Advised a Finnish real estate investment company on its refinancing of existing real estate bank financing facilities with the aggregate nominal amount of €68m.

Bird & Bird

Bird & Bird handles both borrower and lender-side transactions, and is particularly well-equipped to advise on cross-border work. The team is active in acquisition financing, real estate financing, asset based financing and distressed financing transactions, and also provides regulatory advice. Practice head Kristiina Lehvilä has experience in investment services issues, lending work and payment matters.

Practice head(s):

Kristiina Lehvilä

Attorneys-at-law Trust. Ltd

Boutique firm Attorneys-at-law Trust. Ltd advises investors, corporations and private equity funds on a variety of banking, finance and technology transactions. Cross-border banking specialist Mika Lehtimäki jointly leads the practice alongside Juha Taipale, who has extensive experience handling financing mandates for start-ups.

Practice head(s):

Mika Lehtimäki; Juha Taipale

Other key lawyers:

Anne-Marie Malmberg

Key clients

Bergos-Berenberg Bank

ELO Pension Insurance Group

Fennia Insurance Group

FundSi Oy Oy

LocalTapiola Group

Mash Group Plc

Privanet Group Plc

Seligson & Co Oyj

Ab Private Credit Investors LLC

Tietokeskus Finland Oy

Korkia Oy

Work highlights

  • Advised a group of domestic investors on the debt financing of Tampereen Areenahotelli.
  • Acted as Finnish counsel for Ab Private Credit Investors LLC on the financing arrangements of AlphaSense Group.
  • Advised LocalTapiola Group on a number of structured real estate financing transactions for fund entities.