ANNOUNCEMENT 11 Jan 2022

In January 2022, Finnvera issued a EUR 100 million loan to Outokumpu Oyj.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Finnvera (11.01.2022). "An EGF loan of EUR 100 million to Outokumpu". Retrieved on 22.02.2022: https://www.finnvera.fi/eng/export/export-credit-guarantee-operations/guaranteed-transactions/guaranteed-transactions/an-egf-loan-of-eur-100-million-to-outokumpu
Outokumpu (08.02.2022). "Outokumpu financial statements release 2021". Retrieved on 23.02.2022: https://www.outokumpu.com/en/investors

Inception date: 11 Jan 2022 | Removal date: open ended

State loan

On 27 January 2022, Finnvera announced a EUR 100 million (USD 113.6 million) loan to a Finnish company Outokumpu Oyj. The company intends to use the loan as working capital. The maturity of the loan is four years and the loan is granted by Finnvera but is backed by an EGF guarantee from the European Investment Bank (EIB) (see related state act).

Outokumpu is a global stainless steel manufacturer. The company has its headquarters in Helsinki, Finland.

Finnvera

Finnvera is a Finnish state-owned financing company, which provides loans, export credit guarantees and other guarantees to support the capacity and competitiveness of Finnish Enterprises. Finnvera is also the official Export Credit Agency of Finland.

AFFECTED SECTORS