TD Securities and Natixis are the first financial institutions to use Finnvera’s Refinancing Guarantee Scheme

Finnvera and TD Securities have closed a refinancing guarantee allowing the refinancing of around USD 85 million which is a part of a USD denominated buyer credit guarantee facility in the amount of USD 200 million arranged by Natixis to finance Nokia´s deliveries of networks equipment and guaranteed by Finnvera.

Finnvera has had its Refinancing Guarantee Scheme available for some time already as an alternative for the scheme where Finnvera´s subsidiary Finnish Export Credit provides funding and benefits from Finnvera´s guarantee cover.

This transaction was the first time Finnvera’s Refinancing Guarantee Scheme was used. TD Securities’ strong funding base in USD together with Finnvera’s credit enhancement for the buyer credit and its funding enabled the transaction. Under its refinancing guarantee scheme Finnvera issues a 100 percent refinancing guarantee in favour of a financing institution in addition to its standard buyer credit guarantee to a bank arranging the credit. 

TD Securities is one of Canada´s leading providers of advisory and capital market services as well as provider of liquidity to corporations, governments and institutions. TD Securities is a part of The Toronto-Dominion Bank Group, one of Canada´s oldest banks.

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France.

Further information:

Eeva-Maija Pietikäinen, Head of Trade Finance, Finnvera, tel. 029 460 2674

Tommi Sirviö, Senior Legal Counsel, Finnvera, tel. 029 460 2803

More information about Refinancing Guarantee.