Clairfield Finland advised Terra Patris on refinancing its debt portfolio with a syndicated EUR 39 million sustainability-linked loan. The new three-year loan facilities agreement with two one-year extension options includes the following sustainability targets:
• Share of renewable electricity out of Group’s total electricity consumption.
• Group personnel’s average annual sick leave days.
Terra Patris Oy is a Finnish family-owned company with subsidiaries in leisure marine, construction equipment, contract manufacturing and in forest industries.
Clairfield Finland acted as exclusive financial advisor to Terra Patris Oy.
“Sustainability is increasingly important for our industrial clients and other stakeholders. Linking the loan margin to our sustainability targets gives us further incentives and discipline – we are happy to also have our financiers as our sustainability stakeholders. Clairfield Finland’s advice from the project launch to final execution was highly value-adding and we are grateful for their thorough support,” says Turkka Hirvonen, CEO of Terra Patris Oy.