HPP advised Terrafame Ltd in its financing arrangements, which consist of a repayment of EUR 142 million in shareholder loans through stock option exercises and entering into a EUR 250 million loan arrangement with a Nordic bank club. The arrangements strengthened Terrafame’s financial position. As a part of the owners’ financial arrangement, Finnish Minerals Group increased its revolving credit facility given to Terrafame from EUR 40 million to EUR 65 million and extended the facility term until June 2025. The new loan facilities from the Nordic banks are unsecured and have a maturity of four years. The loan arrangement includes a EUR 100 million term loan and a EUR 150 million revolving credit facility.
Terrafame has systematically developed from an intermediate products company into an enabler in electric mobility and financing arrangements are a significant step in ensuring successful execution of Terrafame’s business plan. HPP Attorneys acted as Terrafame’s legal advisor in these arrangements.