Avance advises Elenia Finance Oyj, a fully owned subsidiary of Elenia Oy, in connection with the issuance and sale of fixed-rate guaranteed secured senior notes in the total principal amount of EUR 100,000,000 through a private placement to an institutional investor in the United States, and in the total principal amount of EUR 25,000,000 through a private placement to an institutional investor in Canada.
Elenia Oy is the second largest electricity distribution network operator in Finland with operations in more than 100 cities and municipalities and approximately 67 600 km of distribution network. In 2015, total electricity distribution volume was 5,994GWh. Elenia group also includes Elenia Lämpö Oy which is the second largest private seller of district heating in Finland and Elenia Palvelut Oy which operates the customer service business.