NIB participates in financing Helsinki’s “second city centre”

Tripla Mall in Pasila. Visualisation: YIT

NIB is providing EUR 100 million in financing for the construction of Tripla Mall, a business and residential centre in Helsinki.

The ten-year-maturity loan from NIB is part of a financing package that also includes loans from the European Investment Bank, Danske Bank (coordinator) and Handelsbanken. Investments in the municipal and transport infrastructure in the city area, where Tripla Mall will be located, are being financed by the City of Helsinki and Finland’s State Transport Agency. The total costs of the project amount to approximately EUR 600 million. Tripla Mall is the first project with NIB’s participation included in the pipeline for the Investment Plan for Europe, known as “Juncker Plan”.

The new shopping mall will be located adjacent to Pasila, the second-busiest railway station in the Helsinki region. It will be combined with office towers, hotels and residential buildings. The station will also be rebuilt to provide better comfort to rail commuters.

Tripla will introduce modern waste management and recycling equipment. The project is applying for LEED Platinum certification for “green buildings” and intends to meet the near-zero energy performance of the European Commission’s directive for buildings and the requirements of the Equator Principles.

“Helsinki is one of the fastest-growing cities in Europe. The NIB-financed project is part of a larger effort to create the “second city centre” for the Finnish capital. A large shopping and service centre and improved infrastructure for rail public transport will contribute to reducing the potential climate impact of an expanding urban area”, says Henrik Normann, NIB President & CEO.

The construction project is planned to be completed in October 2019.

Tripla Mall is being developed by a special purpose vehicle owned by Etera Mutual Pension Insurance Company, Fennia Mutual Insurance Company, YIT Construction Ltd and the investment fund Onvest Oy.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Ms Tarja Kylänpää, Senior Director, Origination, at +358 10 618 0237,
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,